Zacks Investment Research Upgrades Solitario Zinc (NYSEAMERICAN:XPL) to Hold

Zacks Investment Research upgraded shares of Solitario Zinc (NYSEAMERICAN:XPL) (TSE:SLR) from a strong sell rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “Solitario is a gold, silver, platinum-palladium, and base metal exploration company actively exploring in Brazil, Mexico and Peru. Solitario has significant business relationships with Anglo Platinum, Newmont Mining and Votorantim Metais. Solitario has approximately US$24 million in cash and marketable securities and no debt. Solitario is traded on the American Stock Exchange (AMEX: XPL) and on the Toronto Stock Exchange (TSX: SLR). “

NYSEAMERICAN:XPL opened at $0.69 on Thursday. Solitario Zinc has a 12 month low of $0.29 and a 12 month high of $1.25. The company has a market capitalization of $40.02 million, a price-to-earnings ratio of -34.28 and a beta of 1.71. The company has a 50 day moving average price of $0.53.

A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in Solitario Zinc by 30.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,224,584 shares of the basic materials company’s stock worth $689,000 after acquiring an additional 286,956 shares during the period. Geode Capital Management LLC increased its position in Solitario Zinc by 310.8% during the first quarter. Geode Capital Management LLC now owns 311,982 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 236,040 shares during the period. Citadel Advisors LLC bought a new position in Solitario Zinc during the first quarter worth $178,000. Virtu Financial LLC acquired a new stake in Solitario Zinc during the fourth quarter worth $65,000. Finally, Northern Trust Corp boosted its stake in Solitario Zinc by 51.5% during the first quarter. Northern Trust Corp now owns 86,683 shares of the basic materials company’s stock worth $72,000 after buying an additional 29,473 shares in the last quarter. 7.00% of the stock is currently owned by institutional investors and hedge funds.

Solitario Zinc Company Profile

Solitario Zinc Corp., an exploration stage company, engages in the acquisition and exploration of zinc properties in North and South America. It primarily owns a 50% operating interest in the Lik zinc-lead-silver property located in Northwest Alaska; and a 39% interest in the Florida Canyon zinc project located in northern Peru.

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