Belpointe Asset Management LLC Purchases Shares of 20,496 Silver Standard Resources Inc. $SSRM

Key Points

• Belpointe Asset Management LLC has acquired 20,496 shares of Silver Standard Resources Inc. valued at approximately $206,000 in the first quarter.
• Analyst ratings for Silver Standard Resources saw mixed changes, with UBS upgrading its rating from "neutral" to "buy" and Zacks downgrading it from "strong-buy" to "hold."
• Silver Standard Resources' stock is currently trading at $22.64, with a market cap of $4.59 billion and earnings per share (EPS) anticipated at 0.73 for the current year.

Belpointe Asset Management LLC purchased a new position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,496 shares of the basic materials company's stock, valued at approximately $206,000.

A number of other hedge funds have also recently made changes to their positions in SSRM. Nuveen LLC purchased a new stake in Silver Standard Resources in the first quarter valued at about $18,759,000. Jacobs Levy Equity Management Inc. grew its holdings in Silver Standard Resources by 921.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,013,320 shares of the basic materials company's stock worth $10,164,000 after acquiring an additional 914,084 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Silver Standard Resources by 413.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 930,200 shares of the basic materials company's stock worth $9,323,000 after acquiring an additional 748,900 shares during the period. Russell Investments Group Ltd. grew its holdings in Silver Standard Resources by 2,392.4% in the first quarter. Russell Investments Group Ltd. now owns 579,552 shares of the basic materials company's stock valued at $5,813,000 after purchasing an additional 556,299 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Silver Standard Resources by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company's stock valued at $24,895,000 after purchasing an additional 529,035 shares during the period. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Silver Standard Resources Price Performance

NASDAQ SSRM traded up $1.04 on Friday, reaching $22.84. The company's stock had a trading volume of 10,075,851 shares, compared to its average volume of 3,608,209. 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 $4.63 billion, a PE ratio of 29.28 and a beta of -0.08. Silver Standard Resources Inc. has a 52 week low of $5.06 and a 52 week high of $23.07. The business has a 50-day moving average price of $16.68 and a 200 day moving average price of $13.14.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SSRM shares. 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 note on Tuesday, September 9th. BMO Capital Markets began coverage on Silver Standard Resources in a report on Friday, July 18th. They issued a "market perform" rating and a $13.50 target price for the company. Finally, UBS Group downgraded Silver Standard Resources from a "buy" rating to a "neutral" rating and upped their price objective for the company from $18.95 to $22.95 in a research note on Friday. Seven analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $13.55.

Silver Standard Resources Company 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.