Silver Standard Resources Inc. $SSRM Shares Purchased by Quantbot Technologies LP

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 increased its holdings in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 79.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 approximately 0.12% of Silver Standard Resources worth $2,513,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SSRM. LPL Financial LLC boosted its stake in Silver Standard Resources by 13.7% during the fourth quarter. LPL Financial LLC now owns 85,931 shares of the basic materials company's stock worth $598,000 after buying an additional 10,326 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in Silver Standard Resources during the fourth quarter worth $156,000. Russell Investments Group Ltd. boosted its stake in Silver Standard Resources by 18.9% during the fourth quarter. Russell Investments Group Ltd. now owns 23,253 shares of the basic materials company's stock worth $162,000 after buying an additional 3,693 shares during the period. MetLife Investment Management LLC boosted its stake in Silver Standard Resources by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 125,405 shares of the basic materials company's stock worth $873,000 after buying an additional 6,763 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake 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 worth $95,000 after buying an additional 8,872 shares during the period. Institutional investors own 68.30% of the company's stock.

Analyst Ratings Changes

Several research firms have commented 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. UBS Group raised shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $13.85 to $18.95 in a research note on Friday, August 15th. Zacks Research raised shares of Silver Standard Resources to a "strong-buy" rating in a research note on Monday, August 11th. Finally, 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 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $12.55.

Silver Standard Resources Stock Performance

Shares of NASDAQ SSRM traded up $0.3830 during midday trading on Monday, reaching $17.4930. The company had a trading volume of 2,682,873 shares, compared to its average volume of 2,716,540. The business's 50-day simple moving average is $13.53 and its 200 day simple moving average is $11.66. The stock has a market cap of $3.55 billion, a P/E ratio of 22.49 and a beta of -0.16. Silver Standard Resources Inc. has a 1 year low of $4.82 and a 1 year high of $17.63. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $410.54 million for the quarter, compared to the consensus estimate of $381.08 million. On average, analysts forecast that Silver Standard Resources Inc. will post 0.73 earnings per share for the current fiscal year.

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.