Solitario Resources (NYSEAMERICAN:XPL) Stock Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Solitario Resources shares fell below their 200-day moving average, trading as low as $0.7180 and last changing hands near $0.73, compared with the moving average of $0.80.
• Analyst sentiment remains cautiously positive: HC Wainwright reiterated a Buy rating with a $1.20 price target, while the broader consensus is “Moderate Buy” with the same average target.
• The company reported quarterly EPS of negative $0.01, in line with estimates, and analysts expect a full-year loss of approximately $0.05 per share. Institutional investors own 18.23% of the stock.

Solitario Resources Corp. (NYSEAMERICAN:XPL - Get Free Report) TSE: SLR shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.80 and traded as low as $0.7180. Solitario Resources shares last traded at $0.73, with a volume of 47,120 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a "buy" rating and issued a $1.20 price objective on shares of Solitario Resources in a research report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Solitario Resources currently has a consensus rating of "Moderate Buy" and an average target price of $1.20.

Solitario Resources Price Performance

The stock's 50 day simple moving average is $0.78 and its two-hundred day simple moving average is $0.80. The stock has a market capitalization of $67.94 million, a PE ratio of -14.60 and a beta of 0.45.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new position in shares of Solitario Resources during the 3rd quarter worth $194,000. Mercer Global Advisors Inc. ADV bought a new stake in Solitario Resources in the 3rd quarter valued at about $35,000. Focused Wealth Management Inc raised its stake in 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 valued at $426,000 after acquiring an additional 40,000 shares during the period. Geode Capital Management LLC lifted its holdings in Solitario Resources by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 650,751 shares of the basic materials company's stock valued at $454,000 after purchasing an additional 55,958 shares during the last quarter. Finally, Total Wealth Planning & Management Inc. purchased a new stake in Solitario Resources during the fourth quarter valued at about $130,000. 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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