Compound Planning Inc. Acquires New Shares 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. acquired a new stake in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,796 shares of the basic materials company's stock, valued at approximately $289,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in shares of Silver Standard Resources by 1.1% in the first quarter. Hsbc Holdings PLC now owns 206,667 shares of the basic materials company's stock valued at $2,098,000 after acquiring an additional 2,174 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Silver Standard Resources by 79.0% in the first quarter. Quantbot Technologies LP now owns 250,561 shares of the basic materials company's stock valued at $2,513,000 after acquiring an additional 110,554 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Silver Standard Resources by 6.3% in the first quarter. Wellington Management Group LLP now owns 528,774 shares of the basic materials company's stock valued at $5,304,000 after acquiring an additional 31,396 shares in the last quarter. TriaGen Wealth Management LLC bought a new stake in shares of Silver Standard Resources in the first quarter valued at about $575,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of Silver Standard Resources in the first quarter valued at about $72,000. 68.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SSRM. UBS Group upgraded Silver Standard Resources from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $13.85 to $18.95 in a report on Friday, August 15th. Zacks Research upgraded shares of Silver Standard Resources to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen upgraded shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, BMO Capital Markets began coverage on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Silver Standard Resources has a consensus rating of "Hold" and an average price target of $12.55.

Silver Standard Resources Stock Performance

Shares of Silver Standard Resources stock opened at $18.44 on Thursday. The company has a market capitalization of $3.74 billion, a PE ratio of 23.64 and a beta of -0.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. The company has a 50-day simple moving average of $13.84 and a two-hundred day simple moving average of $11.81. Silver Standard Resources Inc. has a one year low of $4.82 and a one year high of $18.48.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly 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. 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 for the quarter, compared to analyst estimates of $381.08 million. Research analysts expect that Silver Standard Resources Inc. will post 0.73 EPS 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.

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