Russell Investments Group Ltd. Has $5.81 Million Stock Position 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 filing with the Securities and Exchange Commission (SEC). The fund owned 579,552 shares of the basic materials company's stock after purchasing an additional 556,299 shares during the period. Russell Investments Group Ltd. owned about 0.29% of Silver Standard Resources worth $5,813,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Silver Standard Resources by 21.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company's stock worth $70,265,000 after acquiring an additional 1,802,821 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Silver Standard Resources by 14.7% in the 4th quarter. Tidal Investments LLC now owns 3,174,367 shares of the basic materials company's stock worth $22,094,000 after buying an additional 407,920 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Silver Standard Resources by 22.2% in the 4th quarter. Voloridge Investment Management LLC now owns 2,203,900 shares of the basic materials company's stock worth $15,339,000 after buying an additional 399,806 shares in the last quarter. Nuveen LLC acquired a new position in shares of Silver Standard Resources in the 1st quarter worth approximately $18,759,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Silver Standard Resources by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,409,521 shares of the basic materials company's stock worth $14,128,000 after buying an additional 30,862 shares in the last quarter. Institutional investors own 68.30% of the company's stock.

Silver Standard Resources Price Performance

Shares of SSRM stock traded up $0.80 during trading on Tuesday, hitting $18.32. The company had a trading volume of 4,410,038 shares, compared to its average volume of 3,512,017. 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 firm has a market capitalization of $3.71 billion, a P/E ratio of 23.49 and a beta of -0.16. The stock's 50-day moving average price is $13.73 and its 200 day moving average price is $11.76. Silver Standard Resources Inc. has a one year low of $4.82 and a one year high of $18.45.

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 (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.28. The business had revenue of $410.54 million during the quarter, compared to analysts' expectations of $381.08 million. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%. Equities analysts expect that Silver Standard Resources Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group raised Silver Standard Resources from a "neutral" rating to a "buy" rating and raised their price target for the company from $13.85 to $18.95 in a report on Friday, August 15th. Wall Street Zen upgraded Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Zacks Research upgraded Silver Standard Resources to a "strong-buy" rating in a report on Monday, August 11th. Finally, BMO Capital Markets initiated coverage on Silver Standard Resources in a report on Friday, July 18th. They set a "market perform" rating and a $13.50 target price on the stock. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.55.

Silver Standard Resources Company 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.