Nuveen LLC Takes $18.76 Million Position in Silver Standard Resources Inc. $SSRM

Key Points

• Nuveen LLC has acquired 1,870,514 shares of Silver Standard Resources Inc., valued at approximately $18.76 million, amounting to 0.92% ownership in the company.
• Multiple large investors, including Tower Research Capital and Merit Financial Group, have significantly increased their stakes in Silver Standard Resources, reflecting strong institutional interest.
• Silver Standard Resources recently reported an earnings per share (EPS) of $0.51, exceeding analyst expectations of $0.23, with a revenue of $410.54 million for the quarter.

Nuveen LLC acquired a new position in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,870,514 shares of the basic materials company's stock, valued at approximately $18,759,000. Nuveen LLC owned 0.92% of Silver Standard Resources as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG lifted its stake in shares of Silver Standard Resources by 23.5% in the 4th quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company's stock worth $2,530,000 after purchasing an additional 69,124 shares during the period. RFG Advisory LLC bought a new position in shares of Silver Standard Resources in the 1st quarter worth approximately $206,000. Alps Advisors Inc. bought a new position in shares of Silver Standard Resources in the 1st quarter worth approximately $292,000. Victory Capital Management Inc. bought a new position in shares of Silver Standard Resources in the 1st quarter worth approximately $846,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Silver Standard Resources by 3.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company's stock worth $289,000 after purchasing an additional 1,089 shares during the period. Institutional investors own 68.30% of the company's stock.

Wall Street Analysts Forecast Growth

SSRM has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. UBS Group upgraded shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and raised their target price for the stock from $13.85 to $18.95 in a research note on Friday, August 15th. BMO Capital Markets initiated coverage on shares of Silver Standard Resources in a research note on Friday, July 18th. They set a "market perform" rating and a $13.50 target price on the stock. Finally, Zacks Research upgraded shares of Silver Standard Resources to a "strong-buy" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.55.

Silver Standard Resources Price Performance

Shares of Silver Standard Resources stock traded up $0.41 on Monday, hitting $17.52. 3,642,957 shares of the company traded hands, compared to its average volume of 3,422,356. The stock has a market capitalization of $3.55 billion, a P/E ratio of 22.46 and a beta of -0.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. Silver Standard Resources Inc. has a 52 week low of $4.82 and a 52 week high of $17.63. The business has a 50-day simple moving average of $13.62 and a 200 day simple moving average of $11.72.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.28. The firm had revenue of $410.54 million for the quarter, compared to analysts' expectations of $381.08 million. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. Research analysts expect that Silver Standard Resources Inc. will post 0.73 earnings per share for the current fiscal year.

Silver Standard Resources Profile

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.