Solitario Resources Corp. (NYSEAMERICAN:XPL) Sees Large Increase in Short Interest

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 183,096 shares, a growth of 65.7% from the February 26th total of 110,531 shares. Based on an average daily volume of 764,215 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV bought a new stake in shares of Solitario Resources during the 3rd quarter worth approximately $35,000. XTX Topco Ltd increased its holdings in Solitario Resources by 185.0% during the fourth quarter. XTX Topco Ltd now owns 53,018 shares of the basic materials company’s stock worth $37,000 after buying an additional 34,415 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new position in Solitario Resources during the fourth quarter worth $130,000. Citadel Advisors LLC bought a new stake in Solitario Resources during the third quarter worth $194,000. Finally, Focused Wealth Management Inc lifted its stake in Solitario Resources by 7.0% in the fourth quarter. Focused Wealth Management Inc now owns 610,900 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 40,000 shares during the last quarter. 18.23% of the stock is currently owned by institutional investors.

Solitario Resources Price Performance

Shares of Solitario Resources stock traded up $0.01 on Friday, hitting $0.80. The company had a trading volume of 67,225 shares, compared to its average volume of 505,276. The stock has a 50-day moving average of $0.78 and a 200-day moving average of $0.72. The firm has a market capitalization of $74.03 million, a P/E ratio of -16.06 and a beta of 0.41. Solitario Resources has a twelve month low of $0.54 and a twelve month high of $0.98.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $1.20 target price on shares of Solitario Resources in a research report on Monday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Solitario Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $1.20.

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.