Silver Standard Resources Inc. (NASDAQ:SSRM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 54.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,937 shares of the basic materials company's stock after selling 131,033 shares during the period. New York State Common Retirement Fund owned 0.05% of Silver Standard Resources worth $1,093,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SSRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Silver Standard Resources by 21.8% in 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 during the last quarter. Federated Hermes Inc. raised its holdings in Silver Standard Resources by 53.9% in the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock worth $25,551,000 after purchasing an additional 1,285,347 shares in the last quarter. Tidal Investments LLC grew its position 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 during the period. Voloridge Investment Management LLC grew its position in Silver Standard Resources by 22.2% during the 4th quarter. Voloridge Investment Management LLC now owns 2,203,900 shares of the basic materials company's stock valued at $15,339,000 after purchasing an additional 399,806 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Silver Standard Resources by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock valued at $13,351,000 after acquiring an additional 370,006 shares during the period. Hedge funds and other institutional investors own 68.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on SSRM shares. National Bankshares restated a "sector perform" rating on shares of Silver Standard Resources in a research note on Wednesday, April 23rd. Wall Street Zen lowered shares of Silver Standard Resources from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. 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. Cormark upgraded Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. Finally, UBS Group restated a "neutral" rating and issued a $13.85 price objective (up from $12.35) on shares of Silver Standard Resources in a report on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Silver Standard Resources presently has an average rating of "Hold" and a consensus target price of $11.28.

Silver Standard Resources Trading Down 0.6%

Silver Standard Resources stock traded down $0.08 during midday trading on Friday, reaching $12.48. 1,458,925 shares of the stock traded hands, compared to its average volume of 2,169,549. The company has a 50-day simple moving average of $12.38 and a two-hundred day simple moving average of $10.61. Silver Standard Resources Inc. has a 12-month low of $4.32 and a 12-month high of $13.48. The firm has a market cap of $2.53 billion, a PE ratio of 30.44 and a beta of -0.12. The company has a current ratio of 3.95, a quick ratio of 1.85 and a debt-to-equity ratio of 0.08.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings data on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.21. The company had revenue of $303.43 million during the quarter, compared to analysts' expectations of $332.64 million. Silver Standard Resources had a return on equity of 2.44% and a net margin of 7.82%. Research analysts expect that Silver Standard Resources Inc. will post 0.73 earnings per share for the current fiscal year.

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.