Bayforest Capital Ltd Buys Shares of 14,636 Silver Standard Resources Inc. (NASDAQ:SSRM)

Bayforest Capital Ltd bought a new stake in Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,636 shares of the basic materials company’s stock, valued at approximately $147,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SSRM. Deutsche Bank AG boosted its stake in shares of Silver Standard Resources by 23.5% during the 4th quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company’s stock worth $2,530,000 after acquiring an additional 69,124 shares in the last quarter. RFG Advisory LLC bought a new stake in shares of Silver Standard Resources during the 1st quarter worth about $206,000. JPMorgan Chase & Co. boosted its stake in shares of Silver Standard Resources by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company’s stock worth $13,351,000 after acquiring an additional 370,006 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Silver Standard Resources by 99.3% during the 4th quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company’s stock worth $3,528,000 after acquiring an additional 252,293 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Silver Standard Resources by 36.1% during the 4th quarter. Sei Investments Co. now owns 253,733 shares of the basic materials company’s stock worth $1,766,000 after acquiring an additional 67,369 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Price Performance

Silver Standard Resources stock opened at $12.07 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.95 and a quick ratio of 1.85. The company has a market capitalization of $2.45 billion, a PE ratio of 29.44 and a beta of -0.12. Silver Standard Resources Inc. has a one year low of $4.32 and a one year high of $13.48. The business has a 50 day simple moving average of $12.50 and a 200 day simple moving average of $10.81.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.08 by $0.21. The business had revenue of $303.43 million during the quarter, compared to the consensus estimate of $332.64 million. Silver Standard Resources had a return on equity of 2.44% and a net margin of 7.82%. On average, sell-side analysts forecast that Silver Standard Resources Inc. will post 0.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on SSRM shares. Cormark upgraded Silver Standard Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, April 22nd. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 26th. UBS Group reiterated a “neutral” rating and issued a $13.85 price objective (up previously from $12.35) on shares of Silver Standard Resources in a research report on Tuesday, June 24th. BMO Capital Markets assumed coverage on Silver Standard Resources in a research report on Friday, July 18th. They issued a “market perform” rating and a $13.50 price objective for the company. Finally, National Bankshares reiterated a “sector perform” rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.28.

About Silver Standard Resources

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.