Deutsche Bank AG Lowers Position in Silver Standard Resources Inc. $SSRM

Key Points

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Deutsche Bank AG decreased its holdings in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,311 shares of the basic materials company's stock after selling 27,183 shares during the period. Deutsche Bank AG owned about 0.17% of Silver Standard Resources worth $3,373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Silver Standard Resources by 21.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company's stock worth $70,265,000 after purchasing an additional 1,802,821 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of 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 worth $22,094,000 after purchasing an additional 407,920 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Silver Standard Resources by 22.2% in the 4th quarter. Voloridge Investment Management LLC now owns 2,203,900 shares of the basic materials company's stock worth $15,339,000 after purchasing an additional 399,806 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Silver Standard Resources by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,409,521 shares of the basic materials company's stock worth $14,128,000 after purchasing an additional 30,862 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Silver Standard Resources by 7.1% in the 4th quarter. Northern Trust Corp now owns 1,342,744 shares of the basic materials company's stock worth $9,345,000 after purchasing an additional 89,155 shares in the last quarter. Institutional investors own 68.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on SSRM shares. BMO Capital Markets started 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. Zacks Research raised Silver Standard Resources to a "strong-buy" rating in a report on Monday, August 11th. UBS Group raised Silver Standard Resources from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $13.85 to $18.95 in a report on Friday, August 15th. Finally, Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.55.

Silver Standard Resources Stock Performance

Shares of SSRM traded up $0.19 during trading hours on Friday, hitting $17.11. The stock had a trading volume of 5,134,930 shares, compared to its average volume of 3,238,476. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20. Silver Standard Resources Inc. has a 12 month low of $4.82 and a 12 month high of $17.17. The firm has a market capitalization of $3.47 billion, a PE ratio of 21.94 and a beta of -0.16. The stock has a fifty day moving average price of $13.53 and a 200 day moving average price of $11.64.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate 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 company had revenue of $410.54 million during the quarter, compared to analyst estimates of $381.08 million. Analysts anticipate that Silver Standard Resources Inc. will post 0.73 EPS for the current year.

Silver Standard Resources 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.