Bayforest Capital Ltd bought a new stake in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,636 shares of the basic materials company's stock, valued at approximately $147,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Silver Standard Resources in the first quarter valued at $32,000. Tacita Capital Inc acquired a new position in shares of Silver Standard Resources during the 1st quarter worth $48,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Silver Standard Resources in the first quarter valued at approximately $72,000. Simplicity Wealth LLC acquired a new stake in shares of Silver Standard Resources in the first quarter valued at approximately $109,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Silver Standard Resources in the first quarter valued at approximately $113,000. Institutional investors and hedge funds own 68.30% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently commented on SSRM. UBS Group upgraded shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and increased their price target for the company from $13.85 to $18.95 in a research report on Friday, August 15th. Wall Street Zen upgraded Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Zacks Research cut Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. Finally, BMO Capital Markets initiated coverage on Silver Standard Resources in a research report on Friday, July 18th. They set a "market perform" rating and a $13.50 price objective for the company. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $12.55.
Read Our Latest Research Report on Silver Standard Resources
Silver Standard Resources Trading Down 1.4%
SSRM traded down $0.32 during midday trading on Thursday, hitting $21.47. The company's stock had a trading volume of 2,129,690 shares, compared to its average volume of 2,810,277. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.35 billion, a P/E ratio of 27.46 and a beta of -0.08. The firm has a 50-day moving average price of $16.29 and a two-hundred day moving average price of $12.96. Silver Standard Resources Inc. has a 52-week low of $5.06 and a 52-week high of $23.07.
Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share (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 business had revenue of $410.54 million during the quarter, compared to analysts' expectations of $381.08 million. On average, research analysts anticipate that Silver Standard Resources Inc. will post 0.73 earnings per share for the current year.
Silver Standard Resources Profile
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Free Report)
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.
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