Jacobs Levy Equity Management Inc. Raises Position in Silver Standard Resources Inc. $SSRM

Jacobs Levy Equity Management Inc. lifted its position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 921.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,013,320 shares of the basic materials company's stock after buying an additional 914,084 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.50% of Silver Standard Resources worth $10,164,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bleakley Financial Group LLC lifted its stake in shares of Silver Standard Resources by 3.9% during the 1st quarter. Bleakley Financial Group LLC now owns 26,466 shares of the basic materials company's stock valued at $265,000 after buying an additional 1,005 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Silver Standard Resources by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company's stock valued at $289,000 after buying an additional 1,089 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Silver Standard Resources by 0.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company's stock valued at $1,686,000 after buying an additional 1,200 shares in the last quarter. Cadence Wealth Management LLC lifted its stake in shares of Silver Standard Resources by 2.8% during the 1st quarter. Cadence Wealth Management LLC now owns 50,290 shares of the basic materials company's stock valued at $504,000 after buying an additional 1,374 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Silver Standard Resources by 0.4% during the 4th quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company's stock valued at $3,462,000 after buying an additional 1,884 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company's stock.

Silver Standard Resources Price Performance

SSRM stock opened at $21.10 on Monday. Silver Standard Resources Inc. has a 52 week low of $4.86 and a 52 week high of $21.19. 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 company has a fifty day simple moving average of $14.84 and a two-hundred day simple moving average of $12.35. The firm has a market capitalization of $4.28 billion, a P/E ratio of 27.05 and a beta of -0.08.

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 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.28. The business 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%. Analysts anticipate that Silver Standard Resources Inc. will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SSRM has been the topic of a number of analyst reports. UBS Group upgraded 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 research note on Friday, August 15th. Zacks Research upgraded shares of Silver Standard Resources to a "strong-buy" rating in a research note on Monday, August 11th. BMO Capital Markets assumed 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. Finally, Wall Street Zen upgraded shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $12.55.

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.

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