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

Key Points

• Solitario Resources shares fell below their 200-day moving average on Monday, trading as low as $0.7312 before last changing hands at $0.74.
• Despite the weakness, HC Wainwright reiterated a buy rating on the stock with a $1.20 price target, and the overall analyst view remains Moderate Buy.
• The company reported Q1 EPS of -$0.01, in line with expectations, while analysts currently project full-year EPS of about -$0.05.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR's stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.80 and traded as low as $0.7312. Solitario Resources shares last traded at $0.74, with a volume of 27,991 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright reissued a "buy" rating and set a $1.20 price target on shares of Solitario Resources in a research report 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1.20.

Solitario Resources Trading Down 1.3%

The firm's 50 day moving average price is $0.80 and its two-hundred day moving average price is $0.80. The company has a market capitalization of $68.87 million, a price-to-earnings ratio of -14.80 and a beta of 0.45.

Solitario Resources (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR last issued its earnings results on Wednesday, May 6th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). As a group, equities research analysts predict that Solitario Resources Corp. will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in XPL. Mercer Global Advisors Inc. ADV bought a new stake in Solitario Resources in the 3rd quarter valued at $35,000. XTX Topco Ltd raised its position in shares of 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 during the period. Total Wealth Planning & Management Inc. bought a new position in shares of Solitario Resources in the fourth quarter valued at about $130,000. Citadel Advisors LLC acquired a new stake in shares of Solitario Resources during the 3rd quarter worth about $194,000. Finally, Focused Wealth Management Inc lifted its stake in shares of Solitario Resources by 7.0% during the 4th quarter. Focused Wealth Management Inc now owns 610,900 shares of the basic materials company's stock worth $426,000 after buying an additional 40,000 shares during the last quarter. 18.23% of the stock is currently owned by institutional investors.

About Solitario Resources

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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