Fox Run Management L.L.C. Takes $879,000 Position 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 position in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 87,611 shares of the basic materials company's stock, valued at approximately $879,000.

Several other large investors also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Silver Standard Resources during the 1st quarter valued at about $32,000. Tower Research Capital LLC TRC lifted its holdings in Silver Standard Resources by 187.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company's stock worth $95,000 after purchasing an additional 8,872 shares in the last quarter. Simplicity Wealth LLC bought a new stake in Silver Standard Resources in the 1st quarter worth approximately $109,000. Merit Financial Group LLC bought a new stake in Silver Standard Resources in the 1st quarter worth approximately $113,000. Finally, Triasima Portfolio Management inc. bought a new stake in Silver Standard Resources in the 1st quarter worth approximately $117,000. 68.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SSRM shares. National Bankshares reissued a "sector perform" rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. Cormark upgraded Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. Wall Street Zen upgraded Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Zacks Research upgraded Silver Standard Resources to a "strong-buy" rating in a research note on Monday, August 11th. Finally, UBS Group upgraded Silver Standard Resources from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $13.85 to $18.95 in a research note on Friday, August 15th. 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.55.

Silver Standard Resources Price Performance

SSRM traded up $0.3250 during trading on Wednesday, hitting $16.4150. The company's stock had a trading volume of 1,396,816 shares, compared to its average volume of 2,703,007. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. Silver Standard Resources Inc. has a twelve month low of $4.82 and a twelve month high of $16.91. The business's fifty day simple moving average is $13.27 and its 200 day simple moving average is $11.46. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 21.06 and a beta of -0.16.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.28. The business had revenue of $410.54 million for the quarter, compared to the consensus estimate of $381.08 million. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%. On average, equities research analysts forecast that Silver Standard Resources Inc. will post 0.73 EPS 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.