Federated Hermes Inc. Has $30.93 Million Stock Holdings in Silver Standard Resources Inc. (NASDAQ:SSRM)

Key Points

• Federated Hermes Inc. decreased its position in Silver Standard Resources by 16.0%, selling 587,659 shares and holding a total of 3,083,479 shares valued at approximately $30.9 million.
• Despite Federated Hermes' reduction, several other institutional investors, including Bleakley Financial Group and Wealth Enhancement Advisory Services, increased their stakes in Silver Standard Resources during the same period.
• Silver Standard Resources reported $0.29 earnings per share for the last quarter, significantly surpassing the consensus estimate of $0.08, but had revenue of $303.43 million, falling short of the predicted $332.64 million.

Federated Hermes Inc. trimmed its position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 16.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,083,479 shares of the basic materials company's stock after selling 587,659 shares during the quarter. Federated Hermes Inc. owned approximately 1.52% of Silver Standard Resources worth $30,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Deutsche Bank AG raised its stake in shares of Silver Standard Resources by 23.5% in the 4th quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company's stock valued at $2,530,000 after acquiring an additional 69,124 shares in the last quarter. RFG Advisory LLC bought a new position in shares of Silver Standard Resources in the 1st quarter valued at approximately $206,000. JPMorgan Chase & Co. raised its stake in shares of Silver Standard Resources by 23.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock valued at $13,351,000 after acquiring an additional 370,006 shares in the last quarter. American Century Companies Inc. increased its position in Silver Standard Resources by 99.3% in the 4th quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company's stock worth $3,528,000 after buying an additional 252,293 shares during the period. Finally, Sei Investments Co. increased its position in Silver Standard Resources by 36.1% in the 4th quarter. Sei Investments Co. now owns 253,733 shares of the basic materials company's stock worth $1,766,000 after buying an additional 67,369 shares during the period. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on SSRM. Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. National Bankshares reaffirmed a "sector perform" rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. UBS Group reaffirmed a "neutral" rating and issued a $13.85 price target (up from $12.35) on shares of Silver Standard Resources in a research report on Tuesday, June 24th. Cormark upgraded Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets began coverage on Silver Standard Resources in a research note on Friday, July 18th. They issued a "market perform" rating and a $13.50 price target on the stock. Six research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Silver Standard Resources currently has an average rating of "Hold" and an average price target of $11.28.

Silver Standard Resources Stock Performance

Shares of SSRM traded up $0.33 during mid-day trading on Monday, reaching $12.40. The company's stock had a trading volume of 875,799 shares, compared to its average volume of 2,585,432. Silver Standard Resources Inc. has a 1-year low of $4.32 and a 1-year high of $13.48. The stock has a market cap of $2.51 billion, a P/E ratio of 30.25 and a beta of -0.16. The business has a 50-day simple moving average of $12.50 and a two-hundred day simple moving average of $10.86. The company has a current ratio of 3.95, a quick ratio of 1.85 and a debt-to-equity ratio of 0.08.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings data on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.21. The company had revenue of $303.43 million during the quarter, compared to analysts' expectations of $332.64 million. Silver Standard Resources had a return on equity of 2.44% and a net margin of 7.82%. As a group, equities research analysts anticipate that Silver Standard Resources Inc. will post 0.73 earnings per share for the current fiscal 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.