Fox Run Management L.L.C. Makes New Investment in Silver Standard Resources Inc. $SSRM

Key Points

• Fox Run Management L.L.C. invested $879,000 in Silver Standard Resources Inc., acquiring 87,611 shares in the first quarter.
• The company reported $0.51 earnings per share, exceeding analyst expectations by $0.28 and had a revenue of $410.54 million for the quarter.
• Silver Standard Resources has received favorable ratings from various analysts, including upgrades to a "strong buy" rating, indicating growing confidence in the stock's performance.

Fox Run Management L.L.C. acquired a new stake in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 87,611 shares of the basic materials company's stock, valued at approximately $879,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Silver Standard Resources during the 1st quarter valued at approximately $32,000. Russell Investments Group Ltd. increased its holdings in shares of Silver Standard Resources by 2,392.4% during the 1st quarter. Russell Investments Group Ltd. now owns 579,552 shares of the basic materials company's stock valued at $5,813,000 after purchasing an additional 556,299 shares in the last quarter. Nuveen LLC purchased a new position in shares of Silver Standard Resources during the 1st quarter valued at approximately $18,759,000. Aigen Investment Management LP increased its holdings in shares of Silver Standard Resources by 267.3% during the 1st quarter. Aigen Investment Management LP now owns 47,683 shares of the basic materials company's stock valued at $529,000 after purchasing an additional 34,701 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Silver Standard Resources by 413.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 930,200 shares of the basic materials company's stock valued at $9,323,000 after purchasing an additional 748,900 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SSRM. Wall Street Zen raised shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. UBS Group raised shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and lifted their target price for the company from $13.85 to $18.95 in a report on Friday, August 15th. National Bankshares reaffirmed a "sector perform" rating on shares of Silver Standard Resources in a report on Wednesday, April 23rd. BMO Capital Markets started coverage on shares of Silver Standard Resources in a research report on Friday, July 18th. They set a "market perform" rating and a $13.50 price objective for the company. Finally, Zacks Research upgraded shares of Silver Standard Resources to a "strong-buy" rating in a research report on Monday, August 11th. One equities research 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's stock. Based on data from MarketBeat, Silver Standard Resources has an average rating of "Hold" and an average price target of $12.55.

Silver Standard Resources Trading Up 1.1%

NASDAQ SSRM traded up $0.1850 during trading hours on Thursday, reaching $16.6350. The company had a trading volume of 745,026 shares, compared to its average volume of 2,696,971. The stock has a 50-day moving average of $13.35 and a 200 day moving average of $11.50. Silver Standard Resources Inc. has a 1-year low of $4.82 and a 1-year high of $16.91. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $3.37 billion, a P/E ratio of 21.33 and a beta of -0.16.

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 (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.28. The business had revenue of $410.54 million for the quarter, compared to analysts' expectations of $381.08 million. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. As a group, research analysts anticipate that Silver Standard Resources Inc. will post 0.73 earnings per share 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.