Dynamic Technology Lab Private Ltd Takes Position in Silver Standard Resources Inc. $SSRM

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new position in Silver Standard Resources Inc., purchasing 53,815 shares valued at approximately $540,000 during Q1.
• Several institutional investors, including Tidal Investments LLC and Voloridge Investment Management LLC, have also increased their stakes in SSRM considerably over recent quarters.
• Following a recent earnings report, SSRM exceeded analysts' estimates with an EPS of $0.51 and expects to post a 0.73 EPS for the current fiscal year.

Dynamic Technology Lab Private Ltd purchased a new position in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 53,815 shares of the basic materials company's stock, valued at approximately $540,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SSRM. Tidal Investments LLC grew 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 worth $22,094,000 after acquiring an additional 407,920 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of Silver Standard Resources by 22.2% in the fourth quarter. Voloridge Investment Management LLC now owns 2,203,900 shares of the basic materials company's stock valued at $15,339,000 after purchasing an additional 399,806 shares during the period. Nuveen LLC bought a new position in Silver Standard Resources in the first quarter worth approximately $18,759,000. Charles Schwab Investment Management Inc. increased its holdings in Silver Standard Resources by 2.2% during 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 during the period. Finally, Northern Trust Corp increased its holdings in Silver Standard Resources by 7.1% during 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 during the period. Institutional investors own 68.30% of the company's stock.

Silver Standard Resources Trading Up 3.8%

Shares of NASDAQ SSRM opened at $21.97 on Thursday. Silver Standard Resources Inc. has a 1-year low of $5.06 and a 1-year high of $22.02. The business has a fifty day moving average price of $15.36 and a 200 day moving average price of $12.55. The stock has a market capitalization of $4.46 billion, a P/E ratio of 28.17 and a beta of -0.08. 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 (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its earnings results on Tuesday, August 5th. The basic materials company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.28. The business 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BMO Capital Markets began coverage on Silver Standard Resources in a research report on Friday, July 18th. They set a "market perform" rating and a $13.50 price target on the stock. Zacks Research raised shares of Silver Standard Resources to a "strong-buy" rating in a research note on Monday, August 11th. UBS Group raised shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and raised their target price for the company from $13.85 to $18.95 in a research report on Friday, August 15th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.

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