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

Key Points

• Solitario Resources shares fell below their 200-day moving average, trading as low as $0.5506 and last changing hands at $0.5550, versus a 200-day average of $0.77.
• Analysts maintain a cautiously positive outlook: HC Wainwright reiterated a Buy rating with a $1.20 target, while the overall consensus is “Moderate Buy.”
• The company reported a quarterly loss of $0.02 per share, missing the $0.01 loss estimate; hedge funds and institutional investors own 18.23% of the stock.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR shares passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $0.77 and traded as low as $0.5506. Solitario Resources shares last traded at $0.5550, with a volume of 15,763 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and set a $1.20 price target on shares of Solitario Resources in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1.20.

Solitario Resources Stock Down 0.7%

The firm has a 50-day simple moving average of $0.68 and a 200-day simple moving average of $0.77. The stock has a market cap of $52.55 million, a PE ratio of -9.25 and a beta of 0.54.

Solitario Resources (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR last issued its quarterly earnings data 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). On average, research analysts expect that Solitario Resources Corp. will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Solitario Resources

Several hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in Solitario Resources in the 2nd quarter valued at $80,000. Focused Wealth Management Inc boosted its stake in Solitario Resources by 24.9% during the first quarter. Focused Wealth Management Inc now owns 762,900 shares of the basic materials company's stock valued at $626,000 after buying an additional 152,000 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Solitario Resources by 24.4% during the first quarter. Renaissance Technologies LLC now owns 1,612,399 shares of the basic materials company's stock valued at $1,322,000 after buying an additional 316,693 shares during the period. Hedge funds and other institutional investors own 18.23% of the company's stock.

Solitario Resources Company Profile

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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