Solitario Resources (NYSEAMERICAN:XPL) Stock Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Technical move: Solitario's share price crossed above its 50-day moving average of $0.79, trading as high as $0.8501 and last at $0.82 on volume of 104,317 shares.
• Analyst view: HC Wainwright reaffirmed a Buy with a $1.20 price target, and the consensus rating on the stock is a "Moderate Buy" with a $1.20 consensus target.
• Institutional activity: Several funds including Renaissance Technologies and XTX increased stakes in Q4, leaving institutions owning 18.23% of the company, which has a market cap of about $75.6 million.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR's share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $0.79 and traded as high as $0.8501. Solitario Resources shares last traded at $0.82, with a volume of 104,317 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright reissued a "buy" rating and issued a $1.20 price objective on shares of Solitario Resources in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Solitario Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $1.20.

Solitario Resources Trading Down 3.2%

The company has a market capitalization of $75.61 million, a PE ratio of -16.40 and a beta of 0.41. The firm's 50-day simple moving average is $0.79 and its 200-day simple moving average is $0.72.

Institutional Investors Weigh In On Solitario Resources

Several hedge funds have recently modified their holdings of the business. XTX Topco Ltd lifted its position in shares of Solitario Resources by 185.0% in the 4th quarter. XTX Topco Ltd now owns 53,018 shares of the basic materials company's stock worth $37,000 after purchasing an additional 34,415 shares during the period. Renaissance Technologies LLC lifted its position in shares of Solitario Resources by 15.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,295,706 shares of the basic materials company's stock worth $903,000 after purchasing an additional 178,035 shares during the period. Total Wealth Planning & Management Inc. bought a new position in shares of Solitario Resources during the 4th quarter worth approximately $130,000. Geode Capital Management LLC raised its stake in shares of Solitario Resources by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 650,751 shares of the basic materials company's stock worth $454,000 after acquiring an additional 55,958 shares in the last quarter. Finally, Focused Wealth Management Inc raised 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 acquiring an additional 40,000 shares in the last quarter. 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 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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