Solitario Resources (NYSEAMERICAN:XPL) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.69 and traded as low as $0.6289. Solitario Resources shares last traded at $0.6395, with a volume of 121,367 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of Solitario Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Solitario Resources currently has an average rating of “Moderate Buy” and an average target price of $1.20.

Solitario Resources Stock Performance

The business’s 50 day moving average is $0.64 and its two-hundred day moving average is $0.69. The firm has a market capitalization of $61.27 million, a PE ratio of -11.22 and a beta of 0.44.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Focused Wealth Management Inc boosted its position in shares of Solitario Resources by 21.2% in the second quarter. Focused Wealth Management Inc now owns 570,900 shares of the basic materials company’s stock valued at $371,000 after acquiring an additional 100,000 shares during the period. Citadel Advisors LLC purchased a new stake in Solitario Resources in the third quarter valued at approximately $194,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Solitario Resources in the 3rd quarter worth $35,000. Hedge funds and other 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.