Silver Standard Resources Inc. $SSRM Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Silver Standard Resources Inc. by 2.5%, holding 9,827,532 shares valued at approximately $98.5 million.
• Several institutional investors, including Jacobs Levy Equity Management Inc. and Russell Investments Group Ltd., significantly increased their stakes in Silver Standard Resources during the 1st quarter.
• Analysts have recently upgraded Silver Standard Resources, with Wall Street Zen and UBS Group raising their ratings to a strong-buy and boosting price targets, indicating positive sentiment for the stock.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 2.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,827,532 shares of the basic materials company's stock after selling 252,284 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 4.85% of Silver Standard Resources worth $98,525,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SSRM. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in Silver Standard Resources during the fourth quarter valued at approximately $156,000. Tower Research Capital LLC TRC grew its holdings in Silver Standard Resources by 187.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 8,872 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Silver Standard Resources by 21.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,505 shares of the basic materials company's stock valued at $568,000 after purchasing an additional 14,601 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Silver Standard Resources by 0.5% in the fourth 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 during the period. Finally, Northern Trust Corp boosted its holdings in shares of Silver Standard Resources by 7.1% in the fourth quarter. Northern Trust Corp now owns 1,342,744 shares of the basic materials company's stock valued at $9,345,000 after buying an additional 89,155 shares during the period. Institutional investors and hedge funds own 68.30% of the company's stock.

Silver Standard Resources Stock Up 2.4%

Shares of NASDAQ:SSRM traded up $0.53 during mid-day trading on Thursday, hitting $22.50. 966,267 shares of the company traded hands, compared to its average volume of 2,791,281. The firm has a market cap of $4.56 billion, a P/E ratio of 28.89 and a beta of -0.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. Silver Standard Resources Inc. has a 52-week low of $5.06 and a 52-week high of $22.47. The firm's 50 day simple moving average is $15.36 and its 200 day simple moving average is $12.55.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its earnings results on Tuesday, August 5th. The basic materials company reported $0.51 EPS 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 analysts anticipate that Silver Standard Resources Inc. will post 0.73 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on SSRM. BMO Capital Markets began coverage on shares of Silver Standard Resources in a report on Friday, July 18th. They issued a "market perform" rating and a $13.50 price target for the company. Wall Street Zen upgraded shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Zacks Research cut shares of Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, UBS Group upgraded shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and upped their price target for the company from $13.85 to $18.95 in a report on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $12.55.

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.