HC Wainwright Reiterates “Buy” Rating for Solitario Resources (NYSEAMERICAN:XPL)

HC Wainwright restated their buy rating on shares of Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) in a research note released on Tuesday,Benzinga reports. The firm currently has a $1.20 price objective on the basic materials company’s stock.

Solitario Resources Stock Down 1.5 %

XPL stock opened at $0.61 on Tuesday. Solitario Resources has a 1-year low of $0.43 and a 1-year high of $0.98. The company has a market capitalization of $50.01 million, a price-to-earnings ratio of -10.24 and a beta of 0.90.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last posted its quarterly 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). On average, sell-side analysts expect that Solitario Resources will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Focused Wealth Management Inc boosted its position in shares of Solitario Resources by 19.3% during the 3rd quarter. Focused Wealth Management Inc now owns 370,900 shares of the basic materials company’s stock valued at $260,000 after acquiring an additional 60,000 shares during the last quarter. U S Global Investors Inc. bought a new position in shares of Solitario Resources during the 2nd quarter valued at approximately $266,000. Geode Capital Management LLC boosted 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 valued at $406,000 after acquiring an additional 59,573 shares during the last quarter. Finally, Renaissance Technologies LLC boosted 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. 18.23% of the stock is currently owned by institutional investors.

About Solitario Resources

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.