Solitario Resources (NYSEAMERICAN:XPL) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.79 and traded as low as $0.76. Solitario Resources shares last traded at $0.7698, with a volume of 57,334 shares traded.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $1.20 price objective on shares of Solitario Resources in a report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1.20.

Solitario Resources Price Performance

The firm’s 50 day moving average price is $0.81 and its 200 day moving average price is $0.79. The stock has a market capitalization of $71.65 million, a P/E ratio of -15.40 and a beta of 0.45.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last issued its quarterly earnings data on Wednesday, May 6th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). On average, equities research analysts forecast that Solitario Resources Corp. will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Solitario Resources

Several institutional investors and hedge funds have recently modified their holdings of XPL. Renaissance Technologies LLC boosted its stake in Solitario Resources by 24.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,612,399 shares of the basic materials company’s stock worth $1,322,000 after purchasing an additional 316,693 shares in the last quarter. Citadel Advisors LLC bought a new stake in Solitario Resources during the 3rd quarter valued at about $194,000. Total Wealth Planning & Management Inc. bought a new stake in Solitario Resources during the 4th quarter valued at about $130,000. Focused Wealth Management Inc raised its holdings in Solitario Resources by 24.9% in the first quarter. Focused Wealth Management Inc now owns 762,900 shares of the basic materials company’s stock worth $626,000 after buying an additional 152,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Solitario Resources by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 650,751 shares of the basic materials company’s stock worth $454,000 after buying an additional 55,958 shares during the last quarter. 18.23% of the stock is currently 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.