Solitario Resources (NYSEAMERICAN:XPL) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Solitario Resources shares fell below their 200-day moving average, trading as low as $0.5950 before closing at $0.6020. The 200-day average was $0.80, while volume reached 102,005 shares.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $1.20 price target. HC Wainwright reiterated its “Buy” rating, although the company recently reported an adjusted quarterly loss of $0.02 per share, missing estimates.
• Institutional and hedge-fund ownership stands at 18.23%, with several investors recently initiating or increasing positions in the mineral exploration company.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.80 and traded as low as $0.5950. Solitario Resources shares last traded at $0.6020, with a volume of 102,005 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "buy" rating and set a $1.20 price objective 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 issued a Hold rating to the company. According to MarketBeat.com, Solitario Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $1.20.

Solitario Resources Stock Performance

The stock's fifty day simple moving average is $0.74 and its 200-day simple moving average is $0.80. The stock has a market cap of $57.00 million, a P/E ratio of -10.03 and a beta of 0.48.

Solitario Resources (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR last announced its earnings results 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 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV bought a new stake in shares of Solitario Resources during the 3rd quarter valued at $35,000. XTX Topco Ltd raised 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 valued at $37,000 after purchasing an additional 34,415 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Solitario Resources in the second quarter valued at about $80,000. Total Wealth Planning & Management Inc. bought a new stake in Solitario Resources during the fourth quarter worth about $130,000. Finally, Citadel Advisors LLC bought a new stake in Solitario Resources during the third quarter worth about $194,000. 18.23% of the stock is owned by institutional investors and hedge funds.

Solitario Resources Company Profile

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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