HC Wainwright Reaffirms Buy Rating for Solitario Resources

HC Wainwright has reiterated its "buy" rating for Solitario Resources (NYSEAMERICAN:XPL) in a recent research note. They have set a price target of $1.20 on the company’s shares, suggesting a potential upside of approximately 66% based on the stock's recent closing price.

Recent Performance of Solitario Resources Shares

During trading on Friday, shares of Solitario Resources fell by $0.02, settling at $0.72. The volume of shares traded reached 75,141, which is higher than the company's average trading volume of 51,992. Currently, Solitario Resources enjoys a market capitalization of around $58.88 million, with a price-to-earnings (P/E) ratio of -12.05 and a beta value of 0.89. Over the past year, the stock has seen a low of $0.43 and a high of $0.98.

Latest Earnings Report

Solitario Resources released its quarterly earnings data on November 11th, reporting an earnings per share (EPS) of ($0.03), which was below the analysts' expectations of ($0.02) by $0.01. Analysts forecast an average EPS of -0.05 for the current fiscal year from Solitario Resources.

Institutional Ownership Trends

In recent news regarding institutional investments, Geode Capital Management LLC has increased its stake in Solitario Resources. This investment firm raised its position by 11.4% in the third quarter, bringing its total ownership to 579,870 shares after purchasing an additional 59,573 shares. This stake is valued at approximately $406,000, constituting about 0.71% of the firm’s total holdings in Solitario Resources. Currently, institutional investors hold around 18.23% of the company’s stock.

About Solitario Resources

Solitario Resources Corp. is engaged in the exploration of base metals, specifically precious metals and zinc properties, across North and South America. The company has significant interests in several key projects, including a 50% stake in the Lik zinc-lead-silver property in Northwest Alaska, a 39% interest in the Florida Canyon zinc project in northern Peru, and an 85% interest in the Chambara exploration project located in Peru.

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