Silver Standard Resources Inc. (NASDAQ:SSRM – Get Free Report) (TSE:SSO) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.48 and traded as high as $31.49. Silver Standard Resources shares last traded at $30.91, with a volume of 1,796,407 shares trading hands.
Analyst Ratings Changes
A number of research firms recently commented on SSRM. Canadian Imperial Bank of Commerce upgraded shares of Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price objective for the company in a research report on Thursday, March 12th. Bank of America upgraded Silver Standard Resources from an “underperform” rating to a “buy” rating in a report on Wednesday, March 4th. Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. BMO Capital Markets upgraded Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a report on Thursday, March 5th. Finally, Weiss Ratings cut Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $37.75.
Check Out Our Latest Analysis on Silver Standard Resources
Silver Standard Resources Stock Performance
Silver Standard Resources (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.34. The firm had revenue of $581.78 million during the quarter, compared to analysts’ expectations of $524.80 million. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%. On average, equities analysts expect that Silver Standard Resources Inc. will post 4.38 earnings per share for the current year.
Hedge Funds Weigh In On Silver Standard Resources
Hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new position in shares of Silver Standard Resources in the 1st quarter valued at about $50,000. AQR Capital Management LLC grew its holdings in shares of Silver Standard Resources by 461.5% in the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock valued at $863,000 after acquiring an additional 70,726 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Silver Standard Resources by 96.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 410,046 shares of the basic materials company’s stock valued at $4,113,000 after acquiring an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Silver Standard Resources by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock valued at $24,895,000 after acquiring an additional 529,035 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.
Silver Standard Resources Company Profile
Silver Standard Resources Inc (NASDAQ: SSRM) is a Vancouver‐based precious metals company engaged in the acquisition, exploration, development and production of silver and gold deposits primarily across the Americas. The company’s strategy centers on advancing high‐quality projects into production while maintaining a portfolio of operating mines that deliver consistent metal output. Silver Standard emphasizes sustainable resource development and community partnership at each stage of its operations.
The company’s principal producing assets include the Marigold gold mine in Nevada, which entered commercial production in 2006; the Seabee gold operation in Saskatchewan, Canada, acquired in 2016; and the Pirquitas silver‐gold mine in Argentina, which began producing in 2009.
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