Solitario Resources Corp. (NYSEAMERICAN:XPL) Short Interest Down 47.8% in August

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 66,382 shares, a drop of 47.8% from the August 15th total of 127,128 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 84,842 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Investors Weigh In On Solitario Resources

A number of institutional investors have recently modified their holdings of XPL. Focused Wealth Management Inc acquired a new position in shares of Solitario Resources in the 2nd quarter valued at approximately $741,000. Renaissance Technologies LLC lifted its stake in Solitario Resources by 24.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,612,399 shares of the basic materials company’s stock valued at $1,322,000 after purchasing an additional 316,693 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new stake in Solitario Resources in the fourth quarter valued at approximately $130,000. Finally, GSA Capital Partners LLP acquired a new stake in Solitario Resources in the second quarter valued at approximately $80,000. Institutional investors own 18.23% of the company’s stock.

Analysts Set New Price Targets

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

Solitario Resources Price Performance

NYSEAMERICAN:XPL traded up $0.02 during trading hours on Thursday, reaching $0.61. 37,366 shares of the stock were exchanged, compared to its average volume of 261,065. Solitario Resources has a twelve month low of $0.53 and a twelve month high of $0.98. The stock has a market cap of $58.04 million, a PE ratio of -10.20 and a beta of 0.48. The firm has a 50 day moving average of $0.73 and a 200 day moving average of $0.79.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last posted its quarterly earnings results on Thursday, August 6th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Equities research analysts anticipate that Solitario Resources will post -0.05 earnings per share for the current year.

Solitario Resources Company Profile

Solitario Resources Corp. is a mineral exploration company focused on the discovery and advancement of precious- and base-metal deposits. The company’s activities include acquiring, evaluating and exploring mineral properties, with an emphasis on gold and zinc projects. Solitario is an exploration-stage company rather than a diversified mining producer, and its projects are subject to the risks and uncertainties associated with exploration and development.

The company’s principal assets have included the Golden Crest gold project in South Dakota and the Lik zinc-lead-silver project in Alaska.