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

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 158,200 shares, a growth of 18.7% from the July 15th total of 133,300 shares. Based on an average trading volume of 83,500 shares, the short-interest ratio is presently 1.9 days. Approximately 0.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Solitario Resources

A number of large investors have recently modified their holdings of XPL. Focused Wealth Management Inc increased its holdings in shares of Solitario Resources by 75.9% in the first quarter. Focused Wealth Management Inc now owns 175,900 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 75,900 shares in the last quarter. U S Global Investors Inc. bought a new position in Solitario Resources in the 2nd quarter valued at $266,000. Finally, Renaissance Technologies LLC increased its stake in shares of Solitario Resources by 11.1% in the 2nd quarter. Renaissance Technologies LLC now owns 868,872 shares of the basic materials company’s stock valued at $769,000 after buying an additional 86,854 shares during the period. 18.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. HC Wainwright lifted their price objective on Solitario Resources from $0.80 to $1.10 and gave the company a “buy” rating in a report on Friday, May 3rd. Roth Capital upgraded shares of Solitario Resources to a “strong-buy” rating in a research report on Monday, June 10th. Finally, Roth Mkm began coverage on shares of Solitario Resources in a report on Monday, June 10th. They set a “buy” rating and a $2.00 price objective for the company.

Solitario Resources Stock Performance

Solitario Resources stock traded up $0.02 on Friday, reaching $0.79. The company’s stock had a trading volume of 19,386 shares, compared to its average volume of 48,474. The firm has a market cap of $64.61 million, a P/E ratio of -13.22 and a beta of 0.93. Solitario Resources has a twelve month low of $0.43 and a twelve month high of $0.98.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last issued its quarterly earnings results on Tuesday, July 30th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). On average, equities research analysts predict that Solitario Resources will post -0.05 earnings per share for the current year.

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.