Solitario Resources (NYSEAMERICAN:XPL) Shares Down 1.9% – Here’s What Happened

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR)’s stock price traded down 1.9% during trading on Thursday . The company traded as low as $0.58 and last traded at $0.58. 30,201 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 91,213 shares. The stock had previously closed at $0.59.

Analysts Set New Price Targets

Separately, HC Wainwright lifted their target price on Solitario Resources from $1.10 to $1.20 and gave the company a “buy” rating in a report on Wednesday, August 21st.

Solitario Resources Price Performance

The firm has a market capitalization of $48.51 million, a PE ratio of -9.93 and a beta of 0.89.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last posted its earnings results on Monday, November 11th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Sell-side analysts anticipate that Solitario Resources Corp. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Solitario Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of Solitario Resources by 11.1% during the 2nd quarter. Renaissance Technologies LLC now owns 868,872 shares of the basic materials company’s stock valued at $769,000 after acquiring an additional 86,854 shares during the last quarter. Focused Wealth Management Inc raised its holdings in Solitario Resources by 76.7% in the 2nd quarter. Focused Wealth Management Inc now owns 310,900 shares of the basic materials company’s stock valued at $275,000 after acquiring an additional 135,000 shares during the period. Geode Capital Management LLC grew its position in shares of Solitario Resources by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 579,870 shares of the basic materials company’s stock worth $406,000 after purchasing an additional 59,573 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new stake in shares of Solitario Resources during the 2nd quarter worth approximately $266,000. 18.23% of the stock is owned by institutional investors and hedge funds.

Solitario Resources Company Profile

Solitario Resources Corp., an exploration stage company, engages in the acquisition and exploration of precious metal, zinc, and other base metal properties in North and South America. The company holds 50% interest in the Lik zinc-lead-silver property located in Northwest Alaska; 39% interest in the Florida Canyon zinc project located in northern Peru; and 85% interest in the Chambara exploration project located in Peru.