Short Interest in Solitario Resources Corp. (NYSEAMERICAN:XPL) Declines By 47.8%

Key Points

• Short interest fell 47.8% to 66,382 shares as of August 31, representing about 0.1% of Solitario Resources’ outstanding stock and 0.8 days of average trading volume.
• Institutional ownership stands at 18.23%, with several firms initiating positions and Renaissance Technologies increasing its stake by 24.4%. Analysts maintain a “Moderate Buy” consensus with a $1.20 average price target.
• XPL shares rose 2.3% to $0.61 but remain below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.02 per share, missing estimates by $0.01.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 66,382 shares, a drop of 47.8% from the August 15th total of 127,128 shares. Based on an average daily trading volume, of 84,842 shares, the short-interest ratio is presently 0.8 days. Approximately 0.1% of the company's stock are short sold.

Hedge Funds Weigh In On Solitario Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Focused Wealth Management Inc purchased a new stake in Solitario Resources during the 2nd quarter valued at about $741,000. GSA Capital Partners LLP purchased a new position in Solitario Resources in the second quarter worth about $80,000. Renaissance Technologies LLC raised its holdings in 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 buying an additional 316,693 shares during the last quarter. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of Solitario Resources in the fourth quarter worth approximately $130,000. 18.23% of the stock is currently owned by institutional investors.

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 research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1.20.

Solitario Resources Stock Up 2.3%

Shares of XPL stock traded up $0.01 during mid-day trading on Tuesday, reaching $0.61. 113,188 shares of the company's stock traded hands, compared to its average volume of 226,783. The company's 50-day moving average price is $0.73 and its 200-day moving average price is $0.79. The company has a market cap of $57.72 million, a P/E ratio of -10.16 and a beta of 0.48. Solitario Resources has a 12 month low of $0.53 and a 12 month high of $0.98.

Solitario Resources (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR last issued its quarterly earnings results on Thursday, August 6th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Equities analysts predict that Solitario Resources will post -0.05 earnings per share for the current year.

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.

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