Silver Standard Resources Inc. (NASDAQ:SSRM – Get Free Report) (TSE:SSO)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.10 and traded as high as $30.85. Silver Standard Resources shares last traded at $29.91, with a volume of 3,197,831 shares.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on SSRM shares. Weiss Ratings raised Silver Standard Resources from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 1st. Zacks Research downgraded Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Canadian Imperial Bank of Commerce upgraded Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price target for the company in a research report on Thursday, March 12th. Finally, Bank of America cut their price target on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Silver Standard Resources presently has a consensus rating of “Moderate Buy” and an average price target of $41.60.
Get Our Latest Stock Analysis on SSRM
Silver Standard Resources Stock Performance
Silver Standard Resources (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.34. The firm had revenue of $418.46 million during the quarter, compared to analysts’ expectations of $524.79 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 4.53 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in shares of Silver Standard Resources by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after purchasing an additional 529,035 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Silver Standard Resources by 96.6% in the first 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 during the period. AQR Capital Management LLC grew its stake in shares of Silver Standard Resources by 461.5% in the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after acquiring an additional 70,726 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Silver Standard Resources in the first quarter worth $50,000. 68.30% of the stock is owned by institutional investors and hedge funds.
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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