H.C. Wainwright reiterates Buy rating on Solitario stock with $1.20 target

Investing.com - H.C. Wainwright has reiterated its Buy rating and $1.20 price target on Solitario Exploration & Royalty (NYSE:XPL) stock, citing Newmont Corporation’s increased investment as a strong endorsement of the company’s assets.

On June 20, 2025, Solitario Resources completed a $4.5 million private placement by issuing 7.1 million common shares at $0.63 per share. Newmont Corporation acquired approximately 1.6 million shares in the transaction, increasing its stake to 9.4%. The stock has shown strong momentum, gaining over 8% in the past week and nearly 18% over the last six months.

Newmont also secured additional investor rights under an agreement previously amended in 2023. H.C. Wainwright views Newmont’s continued participation as validation of Solitario’s asset base and strategy.

The research firm notes that Solitario now has $9.0 million in cash and marketable securities, which it expects the company to use for drilling at its Golden Crest project. InvestingPro data shows the company maintains a healthy current ratio of 19.69, with cash holdings exceeding debt obligations. Get access to 8 more exclusive ProTips and detailed financial metrics with InvestingPro.

H.C. Wainwright also anticipates Solitario will continue drilling at its Ponderosa project, though this is currently pending approval. While the company is not currently profitable, with a negative EBITDA of $5.85M in the last twelve months, its low beta of 0.41 suggests lower volatility compared to the broader market.

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