Solitario Resources (NYSEAMERICAN:XPL) Shares Break Below Two Hundred Day Moving Average – Time to Sell?

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR)’s stock price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $0.78 and traded as low as $0.5760. Solitario Resources shares last traded at $0.5760, with a volume of 54,729 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $1.20.

Solitario Resources Price Performance

The stock has a market capitalization of $54.82 million, a P/E ratio of -9.65 and a beta of 0.54. The stock has a 50 day moving average price of $0.70 and a 200-day moving average price of $0.77.

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

Hedge Funds Weigh In On Solitario Resources

Several hedge funds have recently made changes to their positions in XPL. Renaissance Technologies LLC raised its holdings in Solitario Resources by 24.4% in the first quarter. Renaissance Technologies LLC now owns 1,612,399 shares of the basic materials company’s stock worth $1,322,000 after purchasing an additional 316,693 shares in the last quarter. Focused Wealth Management Inc bought a new position in shares of Solitario Resources during the 2nd quarter valued at $741,000. Total Wealth Planning & Management Inc. purchased a new stake in shares of Solitario Resources during the 4th quarter valued at about $130,000. Finally, GSA Capital Partners LLP purchased a new position in Solitario Resources during the second quarter valued at $80,000. 18.23% of the stock is owned by hedge funds and other institutional investors.

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.