Solitario Resources (NYSEAMERICAN:XPL) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.69 and traded as low as $0.58. Solitario Resources shares last traded at $0.5832, with a volume of 265,504 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $1.20 price target on shares of Solitario Resources in a report on Thursday, August 21st. Zacks Research upgraded Solitario Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of $1.20.

Solitario Resources Price Performance

The firm has a market capitalization of $52.60 million, a PE ratio of -8.33 and a beta of 0.51. The business’s 50 day moving average is $0.69 and its two-hundred day moving average is $0.69.

Institutional Trading of Solitario Resources

A number of hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in Solitario Resources in the third quarter valued at $194,000. Focused Wealth Management Inc boosted its holdings in shares of Solitario Resources by 21.2% in the 2nd quarter. Focused Wealth Management Inc now owns 570,900 shares of the basic materials company’s stock worth $371,000 after purchasing an additional 100,000 shares in the last quarter. National Bank of Canada FI increased its position in shares of Solitario Resources by 54.5% during the 1st quarter. National Bank of Canada FI now owns 255,000 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 90,000 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Solitario Resources during the 3rd quarter valued at about $35,000. 18.23% of the stock is owned by institutional investors.

Solitario Resources Company Profile

Solitario Resources Corp., an exploration stage company, engages in the acquisition and exploration of precious metal, zinc, and other base metal properties in North and South America. The company holds 50% interest in the Lik zinc-lead-silver property located in Northwest Alaska; 39% interest in the Florida Canyon zinc project located in northern Peru; and 85% interest in the Chambara exploration project located in Peru.