Solitario Resources (NYSEAMERICAN:XPL) Shares Cross Below 200-Day Moving Average - Here's Why

Key Points

• Solitario Resources shares fell below their 200-day moving average, reaching $0.7940 before last trading at $0.8130 on volume of 73,117 shares.
• Analyst sentiment remains cautiously positive: HC Wainwright reaffirmed a Buy rating with a $1.20 price target, while the overall consensus is “Moderate Buy.”
• The company reported a quarterly loss of $0.02 per share, missing estimates by $0.01; institutional investors own approximately 18.23% of the stock.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR's stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.80 and traded as low as $0.7940. Solitario Resources shares last traded at $0.8130, with a volume of 73,117 shares.

Wall Street Analysts Forecast Growth

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 equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1.20.

Solitario Resources Stock Performance

The stock has a market capitalization of $76.97 million, a P/E ratio of -13.55 and a beta of 0.46. The firm has a 50-day moving average price of $0.76 and a 200 day moving average price of $0.80.

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

Institutional Investors Weigh In On Solitario Resources

A number of hedge funds have recently made changes to their positions in XPL. Mercer Global Advisors Inc. ADV bought a new position in shares of Solitario Resources during the 3rd quarter valued at $35,000. XTX Topco Ltd lifted its stake in Solitario Resources by 185.0% in the fourth 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 during the last quarter. GSA Capital Partners LLP bought a new stake in Solitario Resources in the second quarter worth $80,000. Total Wealth Planning & Management Inc. bought a new stake in Solitario Resources in the fourth quarter worth $130,000. Finally, Citadel Advisors LLC purchased a new stake in Solitario Resources during the third quarter valued at about $194,000. 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.

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