Solitario Resources (NYSEAMERICAN:XPL) Stock Passes Below 200-Day Moving Average – Should You Sell?

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR)’s stock price crossed 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 changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered Solitario Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Solitario Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $1.20.

Solitario Resources Price Performance

The stock’s 50 day simple moving average is $0.64 and its two-hundred day simple moving average is $0.69. The company has a market capitalization of $58.13 million, a P/E ratio of -10.66 and a beta of 0.44.

Hedge Funds Weigh In On Solitario Resources

Large investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new stake in Solitario Resources in the third quarter worth about $35,000. Citadel Advisors LLC bought a new position in shares of Solitario Resources in the 3rd quarter valued at about $194,000. Finally, Focused Wealth Management Inc grew its position in shares of Solitario Resources by 21.2% during the 2nd quarter. Focused Wealth Management Inc now owns 570,900 shares of the basic materials company’s stock worth $371,000 after buying an additional 100,000 shares during the period. Institutional investors and hedge funds 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.