MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $98.53 Million Stock Holdings in Silver Standard Resources Inc. $SSRM

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. trimmed its stake in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SSRM. Caitong International Asset Management Co. Ltd acquired a new stake in Silver Standard Resources during the first quarter valued at approximately $32,000. Tacita Capital Inc acquired a new stake in Silver Standard Resources during the first quarter valued at approximately $48,000. Northwest & Ethical Investments L.P. acquired a new stake in Silver Standard Resources during the first quarter valued at approximately $72,000. Tower Research Capital LLC TRC boosted 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 in the last quarter. Finally, Simplicity Wealth LLC acquired a new stake in Silver Standard Resources during the first quarter valued at approximately $109,000. 68.30% of the stock is owned by institutional investors and hedge funds.

Silver Standard Resources Stock Up 3.8%

Shares of Silver Standard Resources stock traded up $0.81 on Wednesday, hitting $21.97. The company had a trading volume of 3,003,186 shares, compared to its average volume of 2,798,895. The firm has a market capitalization of $4.46 billion, a P/E ratio of 28.17 and a beta of -0.08. Silver Standard Resources Inc. has a twelve month low of $5.06 and a twelve month high of $22.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20. The stock has a 50-day moving average of $15.18 and a 200-day moving average of $12.48.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released 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. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. The firm had revenue of $410.54 million during the quarter, compared to analysts' expectations of $381.08 million. Research analysts predict that Silver Standard Resources Inc. will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SSRM has been the topic of a number of recent research reports. UBS Group raised Silver Standard Resources from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $13.85 to $18.95 in a report on Friday, August 15th. 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. Zacks Research raised shares of Silver Standard Resources to a "strong-buy" rating in a report on Monday, August 11th. Finally, BMO Capital Markets assumed coverage on shares of Silver Standard Resources in a report on Friday, July 18th. They set a "market perform" rating and a $13.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.