Solitario Resources (NYSEAMERICAN:XPL) Shares Pass Below 200 Day Moving Average – Here’s Why

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.80 and traded as low as $0.5271. Solitario Resources shares last traded at $0.5705, with a volume of 1,618,493 shares.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $1.20 target price on shares of Solitario Resources in a research report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Solitario Resources currently has an average rating of “Moderate Buy” and an average target price of $1.20.

Solitario Resources Stock Performance

The company has a market capitalization of $56.33 million, a price-to-earnings ratio of -9.93 and a beta of 0.48. The business has a 50 day moving average price of $0.76 and a 200-day moving average price of $0.80.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last released its earnings results on Thursday, August 6th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). As a group, equities analysts predict that Solitario Resources Corp. will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Focused Wealth Management Inc acquired a new position in shares of Solitario Resources during the second quarter valued at about $741,000. XTX Topco Ltd boosted its position in shares of Solitario Resources by 185.0% during the 4th quarter. XTX Topco Ltd now owns 53,018 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 34,415 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Solitario Resources by 15.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,295,706 shares of the basic materials company’s stock valued at $903,000 after buying an additional 178,035 shares during the period. Geode Capital Management LLC grew its stake in shares of Solitario Resources by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 650,751 shares of the basic materials company’s stock valued at $454,000 after buying an additional 55,958 shares during the period. Finally, Citadel Advisors LLC bought a new stake in Solitario Resources in the 3rd quarter valued at about $194,000. 18.23% of the stock is owned by institutional investors.

About Solitario Resources

Solitario Resources Corp. is a mineral exploration and development company focused on base and precious metals in the Americas. Headquartered in Englewood, Colorado, the firm targets copper, gold and silver through a combination of strategic acquisitions, grassroots exploration and joint-venture partnerships. Solitario’s work spans the full project life cycle from early-stage target generation and permitting through advanced stage resource definition and prefeasibility studies.

The company’s project portfolio includes a range of properties across North and South America.