Alberta Investment Management Corp Cuts Stock Holdings in Silver Standard Resources Inc. (NASDAQ:SSRM)

Key Points

• Alberta Investment Management Corp reduced its stake in Silver Standard Resources by 42.0%, selling 103,500 shares, and now owns 143,200 shares valued at approximately $1.4 million.
• Silver Standard Resources' Q1 earnings surpassed analysts' expectations with an EPS of $0.29, although revenue of $303.43 million fell short of forecasts.
• Institutional investors hold 68.30% of Silver Standard Resources' stock, highlighting significant interest from various hedge funds and investment firms.

Alberta Investment Management Corp reduced its position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 42.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,200 shares of the basic materials company's stock after selling 103,500 shares during the period. Alberta Investment Management Corp owned 0.07% of Silver Standard Resources worth $1,435,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Deutsche Bank AG grew its position in shares of Silver Standard Resources by 23.5% in the fourth quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company's stock valued at $2,530,000 after purchasing an additional 69,124 shares in the last quarter. RFG Advisory LLC purchased a new stake in shares of Silver Standard Resources in the first quarter valued at approximately $206,000. JPMorgan Chase & Co. grew its position in shares of Silver Standard Resources by 23.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock valued at $13,351,000 after purchasing an additional 370,006 shares in the last quarter. American Century Companies Inc. grew its position in shares of Silver Standard Resources by 99.3% in the fourth quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company's stock valued at $3,528,000 after purchasing an additional 252,293 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Silver Standard Resources by 36.1% in the fourth quarter. Sei Investments Co. now owns 253,733 shares of the basic materials company's stock valued at $1,766,000 after purchasing an additional 67,369 shares in the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Silver Standard Resources Trading Up 2.3%

NASDAQ:SSRM traded up $0.35 during trading hours on Friday, reaching $15.19. 2,347,698 shares of the stock were exchanged, compared to its average volume of 2,664,154. The company has a quick ratio of 1.85, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $12.69 and a two-hundred day moving average of $10.98. Silver Standard Resources Inc. has a twelve month low of $4.49 and a twelve month high of $15.49. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 19.47 and a beta of -0.16.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group reiterated a "neutral" rating and issued a $13.85 price objective (up from $12.35) on shares of Silver Standard Resources in a report on Tuesday, June 24th. National Bankshares reiterated a "sector perform" rating on shares of Silver Standard Resources in a report on Wednesday, April 23rd. Cormark upgraded Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. BMO Capital Markets assumed coverage on Silver Standard Resources in a report on Friday, July 18th. They issued a "market perform" rating and a $13.50 price objective on the stock. Finally, Wall Street Zen upgraded Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Six analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus 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.