Solitario Resources (NYSEAMERICAN:XPL) Stock Price Breaks Below 200 Day Moving Average – What’s Next?

by · The Cerbat Gem

Solitario Resources Corp. (NYSEAMERICAN:XPL – Get Free Report) (TSE:SLR)’s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $0.76 and traded as low as $0.5060. Solitario Resources shares last traded at $0.5149, with a volume of 48,299 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $1.20 price target on shares of Solitario Resources in a research 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 data from MarketBeat.com, Solitario Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $1.20.

Get Our Latest Stock Analysis on XPL

Solitario Resources Price Performance

The stock has a market cap of $48.75 million, a PE ratio of -8.58 and a beta of 0.54. The company has a 50 day moving average price of $0.66 and a two-hundred day moving average price of $0.76.

Solitario Resources (NYSEAMERICAN:XPL – Get Free Report) (TSE:SLR) last released its quarterly earnings data 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 -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Solitario Resources

Several hedge funds and other institutional investors have recently bought and sold shares of XPL. Focused Wealth Management Inc purchased a new stake in shares of Solitario Resources during the 2nd quarter valued at about $741,000. Renaissance Technologies LLC grew its stake in shares of Solitario Resources by 24.4% in the first quarter. Renaissance Technologies LLC now owns 1,612,399 shares of the basic materials company’s stock worth $1,322,000 after acquiring an additional 316,693 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Solitario Resources during the second quarter valued at approximately $80,000. Institutional investors own 18.23% of the company’s stock.

Solitario Resources Company Profile

(Get Free Report)

Solitario Resources Corp. is a mineral exploration and development company focused on the discovery and advancement of precious- and base-metal properties in the Americas. The company’s activities center on evaluating geological targets, conducting drilling and other exploration programs, and partnering with larger mining companies to advance projects.

Solitario’s principal gold asset is the Golden Crest project in South Dakota’s Black Hills. The company is exploring the property for potentially significant gold mineralization and is pursuing additional geological, permitting and drilling work to better define its resource potential.

The company also holds an interest in the Bongará zinc project in Peru, a high-grade zinc exploration and development project being advanced through a partnership with Nexa Resources.

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