Ieq Capital LLC bought a new stake in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,235 shares of the basic materials company's stock, valued at approximately $173,000.
Several other large investors also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Silver Standard Resources by 25.4% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 113,709 shares of the basic materials company's stock valued at $1,140,000 after purchasing an additional 23,034 shares during the period. Groupe la Francaise increased its stake in shares of Silver Standard Resources by 2.0% in the first quarter. Groupe la Francaise now owns 255,000 shares of the basic materials company's stock worth $2,558,000 after acquiring an additional 5,000 shares during the last quarter. Sprott Inc. increased its stake in shares of Silver Standard Resources by 136.3% in the first quarter. Sprott Inc. now owns 384,034 shares of the basic materials company's stock worth $3,852,000 after acquiring an additional 221,533 shares during the last quarter. Compound Planning Inc. acquired a new position in shares of Silver Standard Resources in the first quarter worth $289,000. Finally, Hsbc Holdings PLC increased its stake in shares of Silver Standard Resources by 1.1% in the first quarter. Hsbc Holdings PLC now owns 206,667 shares of the basic materials company's stock worth $2,098,000 after acquiring an additional 2,174 shares during the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of 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 research note on Saturday, July 26th. BMO Capital Markets began coverage on shares of 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. UBS Group raised shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and upped their price target for the stock from $13.85 to $18.95 in a research note on Friday, August 15th. Finally, Zacks Research downgraded shares of Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $12.55.
View Our Latest Analysis on Silver Standard Resources
Silver Standard Resources Stock Down 1.6%
NASDAQ:SSRM traded down $0.37 during trading hours on Friday, reaching $22.39. The company's stock had a trading volume of 3,430,570 shares, compared to its average volume of 3,417,357. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 28.71 and a beta of -0.08. Silver Standard Resources Inc. has a one year low of $5.06 and a one year high of $23.07. The business's 50-day moving average is $15.73 and its 200-day moving average is $12.72. 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 issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.28. The firm had revenue of $410.54 million during 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%. Equities research analysts predict that Silver Standard Resources Inc. will post 0.73 EPS for the current year.
About Silver Standard Resources
(
Free Report)
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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