Solitario Resources (NYSEAMERICAN:XPL) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.79 and traded as low as $0.76. Solitario Resources shares last traded at $0.7698, with a volume of 57,334 shares traded.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $1.20 price objective on shares of Solitario Resources in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1.20.

Solitario Resources Stock Up 1.3%

The firm has a market capitalization of $71.65 million, a PE ratio of -15.40 and a beta of 0.45. The stock has a 50-day simple moving average of $0.81 and a 200-day simple moving average of $0.79.

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

Institutional Investors Weigh In On Solitario Resources

Several institutional investors have recently added to or reduced their stakes in XPL. Focused Wealth Management Inc boosted its position in Solitario Resources by 24.9% during the first quarter. Focused Wealth Management Inc now owns 762,900 shares of the basic materials company’s stock worth $626,000 after purchasing an additional 152,000 shares during the period. Renaissance Technologies LLC raised its position in shares of Solitario Resources by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,295,706 shares of the basic materials company’s stock valued at $903,000 after purchasing an additional 178,035 shares during the period. Geode Capital Management LLC raised its position in shares of Solitario Resources by 9.4% in 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 period. Citadel Advisors LLC purchased a new stake in shares of Solitario Resources during the 3rd quarter valued at approximately $194,000. Finally, XTX Topco Ltd lifted its stake 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 valued at $37,000 after buying an additional 34,415 shares in the last quarter. 18.23% of the stock is owned by hedge funds and other 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.