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

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $1.20 target price on the basic materials company’s stock. HC Wainwright’s price objective would indicate a potential upside of 65.98% from the company’s previous close.

Solitario Resources Stock Performance

Shares of NYSEAMERICAN XPL traded down $0.02 during trading on Friday, hitting $0.72. 75,141 shares of the company were exchanged, compared to its average volume of 51,992. The firm has a market capitalization of $58.88 million, a P/E ratio of -12.05 and a beta of 0.89. Solitario Resources has a 1 year low of $0.43 and a 1 year high of $0.98.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last issued its quarterly earnings data on Monday, November 11th. The basic materials company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). On average, sell-side analysts forecast that Solitario Resources will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Solitario Resources

An institutional investor recently raised its position in Solitario Resources stock. Geode Capital Management LLC grew its position in shares of Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 579,870 shares of the basic materials company’s stock after acquiring an additional 59,573 shares during the quarter. Geode Capital Management LLC owned about 0.71% of Solitario Resources worth $406,000 as of its most recent filing with the SEC. 18.23% of the stock is currently owned by hedge funds and other 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.