Solitario Resources (NYSEAMERICAN:XPL) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $1.20 price target on shares of Solitario Resources in a 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 stock. According to data from MarketBeat.com, Solitario Resources currently has an average rating of “Moderate Buy” and an average price target of $1.20.

Solitario Resources Stock Up 1.8%

The business’s fifty day moving average is $0.78 and its two-hundred day moving average is $0.80. The firm has a market cap of $67.52 million, a price-to-earnings ratio of -14.51 and a beta of 0.45.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Research analysts forecast that Solitario Resources Corp. will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Solitario Resources

Hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV bought a new stake in Solitario Resources during the 3rd quarter worth about $35,000. XTX Topco Ltd grew its position in shares of Solitario Resources by 185.0% during the 4th quarter. XTX Topco Ltd now owns 53,018 shares of the basic materials company’s stock worth $37,000 after buying an additional 34,415 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in shares of Solitario Resources during the 4th quarter worth approximately $130,000. Citadel Advisors LLC bought a new stake in shares of Solitario Resources during the third quarter worth approximately $194,000. Finally, Focused Wealth Management Inc lifted its holdings in Solitario Resources by 7.0% in the fourth quarter. Focused Wealth Management Inc now owns 610,900 shares of the basic materials company’s stock valued at $426,000 after buying an additional 40,000 shares during the period. Institutional investors own 18.23% of the company’s stock.

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.