Charles Schwab Investment Management Inc. Buys 30,862 Shares of Silver Standard Resources Inc. $SSRM

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Silver Standard Resources Inc. to $14.13 million, owning 1,409,521 shares which represents 0.70% of the company.
• Silver Standard Resources reported earnings of $0.51 per share, surpassing estimates of $0.23, and achieved revenue of $410.54 million for the quarter.
• Wall Street analysts have shown increased confidence, with firms upgrading the stock to a "strong-buy" rating, and the price target raised to $18.95.

Charles Schwab Investment Management Inc. boosted its holdings in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,409,521 shares of the basic materials company's stock after purchasing an additional 30,862 shares during the period. Charles Schwab Investment Management Inc. owned about 0.70% of Silver Standard Resources worth $14,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in Silver Standard Resources by 187.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company's stock worth $95,000 after purchasing an additional 8,872 shares during the last quarter. Simplicity Wealth LLC purchased a new position in Silver Standard Resources in the first quarter worth $109,000. Merit Financial Group LLC purchased a new position in Silver Standard Resources in the first quarter worth $113,000. Triasima Portfolio Management inc. purchased a new position in Silver Standard Resources in the first quarter worth $117,000. Finally, Two Sigma Securities LLC purchased a new position in Silver Standard Resources in the fourth quarter worth $120,000. Hedge funds and other institutional investors own 68.30% of the company's stock.

Silver Standard Resources Price Performance

NASDAQ SSRM traded down $0.00 during trading on Thursday, reaching $18.44. The company's stock had a trading volume of 1,775,304 shares, compared to its average volume of 2,727,987. The stock has a market capitalization of $3.74 billion, a PE ratio of 23.67 and a beta of -0.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20. The firm has a fifty day moving average of $13.84 and a 200 day moving average of $11.81. Silver Standard Resources Inc. has a one year low of $4.82 and a one year high of $18.57.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. BMO Capital Markets initiated coverage on Silver Standard Resources in a report on Friday, July 18th. They set a "market perform" rating and a $13.50 price objective on the stock. UBS Group raised Silver Standard Resources from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $13.85 to $18.95 in a report on Friday, August 15th. Finally, Zacks Research raised Silver Standard Resources to a "strong-buy" rating in a report on Monday, August 11th. One 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 stock. According to MarketBeat, Silver Standard Resources currently has an average rating of "Hold" and an average price target of $12.55.

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.