Compound Planning Inc. Acquires New Stake in Silver Standard Resources Inc. $SSRM

Key Points

• Compound Planning Inc. acquired a new stake in Silver Standard Resources Inc., purchasing 28,796 shares valued at approximately $289,000 during the first quarter.
• Research firms have recently upgraded Silver Standard Resources, with UBS Group raising their price target from $13.85 to $18.95 and Zacks Research assigning a strong-buy rating.
• Silver Standard Resources reported earnings of $0.51 per share, exceeding analyst estimates and generating revenue of $410.54 million for the quarter.

Compound Planning Inc. bought a new position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 28,796 shares of the basic materials company's stock, valued at approximately $289,000.

A number of other large investors have also recently added to or reduced their stakes in SSRM. Nuveen LLC acquired a new position in Silver Standard Resources during the first quarter worth approximately $18,759,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Silver Standard Resources by 21.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company's stock valued at $70,265,000 after buying an additional 1,802,821 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Silver Standard Resources by 413.1% during the 1st 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. increased its holdings in shares of Silver Standard Resources by 2,392.4% during the 1st quarter. Russell Investments Group Ltd. now owns 579,552 shares of the basic materials company's stock worth $5,813,000 after acquiring an additional 556,299 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Silver Standard Resources by 14.7% in the 4th quarter. Tidal Investments LLC now owns 3,174,367 shares of the basic materials company's stock valued at $22,094,000 after acquiring an additional 407,920 shares during the period. Institutional investors and hedge funds own 68.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

Silver Standard Resources Stock Performance

Shares of SSRM stock traded up $0.64 on Tuesday, hitting $19.95. The company's stock had a trading volume of 5,904,359 shares, compared to its average volume of 3,740,547. Silver Standard Resources Inc. has a fifty-two week low of $4.82 and a fifty-two week high of $20.00. The stock's 50 day moving average is $14.35 and its 200-day moving average is $12.10. The company has a market capitalization of $4.05 billion, a PE ratio of 25.58 and a beta of -0.08. 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 (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.28. The company had revenue of $410.54 million during the quarter, compared to the consensus estimate of $381.08 million. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. Equities research analysts expect that Silver Standard Resources Inc. will post 0.73 earnings per share for the current fiscal year.

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.