Quantbot Technologies LP Has $2.51 Million Holdings in Silver Standard Resources Inc. $SSRM

Key Points

• Quantbot Technologies LP has increased its stake in Silver Standard Resources by 79%, acquiring an additional 110,554 shares, bringing its total ownership to approximately $2.51 million.
• Analysts have issued various ratings on Silver Standard Resources, with UBS raising its target price from $13.85 to $18.95 and several firms giving the stock a "strong-buy" rating.
• Silver Standard's recent earnings report showed $0.51 EPS, exceeding analyst expectations of $0.23, and the company reported a revenue of $410.54 million for the quarter.

Quantbot Technologies LP boosted its position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 79.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,561 shares of the basic materials company's stock after purchasing an additional 110,554 shares during the period. Quantbot Technologies LP owned about 0.12% of Silver Standard Resources worth $2,513,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Silver Standard Resources during the 1st quarter worth about $32,000. Tacita Capital Inc bought a new position in Silver Standard Resources during the 1st quarter worth about $48,000. Northwest & Ethical Investments L.P. acquired a new position in shares of Silver Standard Resources during the 1st quarter worth about $72,000. Tower Research Capital LLC TRC boosted its stake in shares of Silver Standard Resources by 187.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company's stock worth $95,000 after buying an additional 8,872 shares during the last quarter. Finally, Simplicity Wealth LLC acquired a new position in shares of Silver Standard Resources during the 1st quarter worth about $109,000. Institutional investors own 68.30% of the company's stock.

Silver Standard Resources Stock Performance

NASDAQ:SSRM traded up $0.70 during mid-day trading on Tuesday, hitting $18.22. The stock had a trading volume of 1,465,923 shares, compared to its average volume of 2,717,863. The company's 50 day simple moving average is $13.62 and its 200 day simple moving average is $11.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 23.42 and a beta of -0.16. Silver Standard Resources Inc. has a twelve month low of $4.82 and a twelve month high of $18.24.

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 the consensus estimate of $0.23 by $0.28. The firm had revenue of $410.54 million during the quarter, compared to the consensus estimate of $381.08 million. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. On average, equities research analysts forecast that Silver Standard Resources Inc. will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on SSRM shares. 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. BMO Capital Markets started coverage on shares of Silver Standard Resources in a research note on Friday, July 18th. They set a "market perform" rating and a $13.50 price objective for the company. Zacks Research upgraded shares of Silver Standard Resources to a "strong-buy" rating in a research note on Monday, August 11th. Finally, UBS Group upgraded shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $13.85 to $18.95 in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently 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.