Russell Investments Group Ltd. Raises Holdings in Silver Standard Resources Inc. $SSRM

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Silver Standard Resources Inc. by 2,392.4% during Q1, now owning approximately 0.29% of the company worth about $5.8 million.
• Silver Standard Resources' stock price has seen a fluctuation with a one-year low of $4.82 and a high of $16.91, and it currently has a market cap of $3.34 billion.
• Analysts have mixed ratings for Silver Standard Resources, with a consensus rating of "Hold" and an average price target of $12.55.

Russell Investments Group Ltd. grew its position in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 2,392.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 579,552 shares of the basic materials company's stock after acquiring an additional 556,299 shares during the quarter. Russell Investments Group Ltd. owned about 0.29% of Silver Standard Resources worth $5,813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG lifted its position in shares of Silver Standard Resources by 23.5% in the fourth quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company's stock valued at $2,530,000 after acquiring an additional 69,124 shares in the last quarter. RFG Advisory LLC purchased a new position in shares of Silver Standard Resources in the first quarter valued at approximately $206,000. Alps Advisors Inc. purchased a new position in shares of Silver Standard Resources in the first quarter valued at approximately $292,000. Victory Capital Management Inc. purchased a new position in shares of Silver Standard Resources in the first quarter valued at approximately $846,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Silver Standard Resources by 3.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company's stock valued at $289,000 after acquiring an additional 1,089 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company's stock.

Silver Standard Resources Trading Up 2.4%

Shares of SSRM stock traded up $0.4030 on Monday, hitting $17.5130. The stock had a trading volume of 1,927,582 shares, compared to its average volume of 2,716,091. 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 firm has a market capitalization of $3.55 billion, a P/E ratio of 22.45 and a beta of -0.16. Silver Standard Resources Inc. has a 1 year low of $4.82 and a 1 year high of $17.50. The company's 50 day moving average price is $13.53 and its 200-day moving average price is $11.66.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last posted its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.28. The firm 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%. Analysts anticipate 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 research reports. 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. Zacks Research upgraded Silver Standard Resources to a "strong-buy" rating in a research report on Monday, August 11th. BMO Capital Markets began coverage on Silver Standard Resources in a research report on Friday, July 18th. They set a "market perform" rating and a $13.50 price objective on the stock. Finally, UBS Group upgraded Silver Standard Resources from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $13.85 to $18.95 in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Silver Standard Resources presently has an average rating of "Hold" and an average 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.