Solitario Resources (NYSEAMERICAN:XPL) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Solitario Resources Corp. shares have moved above the 200-day moving average, which is currently at $0.67, and last traded at $0.73 with a volume of 539,662 shares.
• Analysts at HC Wainwright have issued a "buy" rating with a price target of $1.20, indicating positive market sentiment towards the stock.
• Institutional investors have recently increased their holdings, with Focused Wealth Management and National Bank of Canada FI raising their stakes by 21.2% and 54.5% respectively.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR's stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.67 and traded as high as $0.74. Solitario Resources shares last traded at $0.73, with a volume of 539,662 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $1.20 price target on shares of Solitario Resources in a report on Thursday, August 21st. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $1.20.

Solitario Resources Stock Up 4.3%

The firm has a market cap of $65.84 million, a P/E ratio of -10.43 and a beta of 0.51. The company's 50 day simple moving average is $0.74 and its 200-day simple moving average is $0.67.

Institutional Trading of Solitario Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Focused Wealth Management Inc raised its stake in shares of Solitario Resources by 21.2% during the second quarter. Focused Wealth Management Inc now owns 570,900 shares of the basic materials company's stock valued at $371,000 after acquiring 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 first quarter. National Bank of Canada FI now owns 255,000 shares of the basic materials company's stock valued at $153,000 after acquiring an additional 90,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Solitario Resources during the first quarter valued at approximately $31,000. Finally, Millennium Management LLC bought a new stake in shares of Solitario Resources during the fourth quarter valued at approximately $44,000. Institutional investors own 18.23% of the company's stock.

Solitario Resources Company Profile

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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