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

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Silver Standard Resources during the first quarter worth about $32,000. Tacita Capital Inc bought a new stake in Silver Standard Resources during the first quarter worth about $48,000. Northwest & Ethical Investments L.P. bought a new stake in Silver Standard Resources during the first quarter worth about $72,000. Simplicity Wealth LLC bought a new stake in Silver Standard Resources during the first quarter worth about $109,000. Finally, Merit Financial Group LLC bought a new stake in Silver Standard Resources during the first quarter worth about $113,000. Institutional investors own 68.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SSRM. BMO Capital Markets began coverage on Silver Standard Resources in a research note on Friday, July 18th. They set a "market perform" rating and a $13.50 price target for the company. Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Zacks Research lowered Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 9th. Finally, UBS Group raised Silver Standard Resources from a "neutral" rating to a "buy" rating and boosted their target price for the company from $13.85 to $18.95 in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $12.55.

Silver Standard Resources Trading Down 4.9%

Shares of NASDAQ SSRM traded down $1.10 during midday trading on Tuesday, reaching $21.54. The company had a trading volume of 3,666,467 shares, compared to its average volume of 3,427,143. Silver Standard Resources Inc. has a one year low of $5.06 and a one year high of $23.07. The company has a quick ratio of 1.20, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average price is $16.10 and its 200-day moving average price is $12.90. The stock has a market cap of $4.37 billion, a PE ratio of 27.62 and a beta of -0.08.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $410.54 million for the quarter, compared to the consensus estimate of $381.08 million. On average, equities research analysts anticipate that Silver Standard Resources Inc. will post 0.73 earnings per share for the current year.

About Silver Standard Resources

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.