Solitario Resources Corp. (NYSEAMERICAN:XPL) Sees Large Increase in Short Interest

Key Points

• Short interest jumped 65.7% in March to 183,096 shares as of March 13, but only 0.2% of the company’s shares are short and the short-interest ratio is just 0.2 days based on average daily volume.
• HC Wainwright reissued a buy rating with a $1.20 price target and the consensus rating is "Moderate Buy" (consensus target $1.20); the stock traded near $0.80 with a market cap of about $74 million and a 12‑month range of $0.54–$0.98.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 183,096 shares, a growth of 65.7% from the February 26th total of 110,531 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 764,215 shares, the short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued a $1.20 price target on shares of Solitario Resources in a research report on Monday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1.20.

Solitario Resources Stock Performance

Shares of NYSEAMERICAN XPL traded up $0.01 during midday trading on Friday, reaching $0.80. 67,225 shares of the company traded hands, compared to its average volume of 505,276. Solitario Resources has a 12 month low of $0.54 and a 12 month high of $0.98. The stock's 50-day simple moving average is $0.78 and its 200-day simple moving average is $0.72. The firm has a market cap of $74.03 million, a PE ratio of -16.06 and a beta of 0.41.

Hedge Funds Weigh In On Solitario Resources

Institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV acquired a new position in Solitario Resources in the third quarter valued at approximately $35,000. XTX Topco Ltd raised its position in shares of Solitario Resources by 185.0% during the 4th quarter. XTX Topco Ltd now owns 53,018 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 34,415 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new position in shares of Solitario Resources in the 4th quarter valued at $130,000. Citadel Advisors LLC acquired a new position in shares of Solitario Resources in the 3rd quarter valued at $194,000. Finally, Focused Wealth Management Inc boosted its position in shares of Solitario Resources by 7.0% in the 4th quarter. Focused Wealth Management Inc now owns 610,900 shares of the basic materials company's stock worth $426,000 after purchasing an additional 40,000 shares during the last quarter. 18.23% of the stock is owned by institutional investors.

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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