Short Interest in Solitario Resources Corp. (NYSEAMERICAN:XPL) Decreases By 31.5%

Key Points

• Short interest in Solitario Resources Corp. decreased by 31.5% in September, with the total short interest standing at 145,200 shares.
• Analysts have given Solitario Resources a consensus rating of Strong Buy and an average price target of $1.20.
• Institutional investors and hedge funds now own 18.23% of Solitario Resources, with some increasing their stakes significantly in recent quarters.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 145,200 shares, a drop of 31.5% from the September 15th total of 212,000 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 186,200 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 186,200 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

XPL has been the subject of several research reports. HC Wainwright reissued a "buy" rating and set a $1.20 price objective on shares of Solitario Resources in a research note on Thursday, August 21st. Zacks Research raised Solitario Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Solitario Resources presently has a consensus rating of "Strong Buy" and an average price target of $1.20.

Solitario Resources Price Performance

XPL traded up $0.04 on Thursday, reaching $0.77. 318,136 shares of the company traded hands, compared to its average volume of 155,248. The stock's 50 day moving average price is $0.75 and its 200-day moving average price is $0.68. Solitario Resources has a 52-week low of $0.54 and a 52-week high of $0.90. The company has a market cap of $69.83 million, a price-to-earnings ratio of -11.06 and a beta of 0.51.

Hedge Funds Weigh In On Solitario Resources

A number of hedge funds have recently modified their holdings of XPL. Focused Wealth Management Inc raised its stake in shares of Solitario Resources by 21.2% during the 2nd quarter. Focused Wealth Management Inc now owns 570,900 shares of the basic materials company's stock worth $371,000 after purchasing an additional 100,000 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Solitario Resources by 54.5% during the 1st quarter. National Bank of Canada FI now owns 255,000 shares of the basic materials company's stock worth $153,000 after purchasing an additional 90,000 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Solitario Resources during the 1st quarter worth about $31,000. 18.23% of the stock is owned by institutional investors and hedge funds.

About Solitario Resources

Solitario Resources Corp., an exploration stage company, engages in the acquisition and exploration of precious metal, zinc, and other base metal properties in North and South America. The company holds 50% interest in the Lik zinc-lead-silver property located in Northwest Alaska; 39% interest in the Florida Canyon zinc project located in northern Peru; and 85% interest in the Chambara exploration project located in Peru.

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