TriaGen Wealth Management LLC Makes New Investment in Silver Standard Resources Inc. (NASDAQ:SSRM)

Key Points

• TriaGen Wealth Management LLC has acquired 57,332 shares of Silver Standard Resources Inc., valued at approximately $575,000, during the 1st quarter.
• Wall Street analysts have raised Silver Standard Resources' ratings, with Cormark upgrading to a "moderate buy" and UBS increasing the target price from $13.85 to $18.95.
• Silver Standard Resources reported earnings of $0.51 per share for the last quarter, exceeding estimates, with total revenue hitting **$410.54 million**, surpassing analysts' expectations.

TriaGen Wealth Management LLC acquired a new position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 57,332 shares of the basic materials company's stock, valued at approximately $575,000.

Several other large investors have also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC increased its position in Silver Standard Resources by 3.9% during the 1st quarter. Bleakley Financial Group LLC now owns 26,466 shares of the basic materials company's stock worth $265,000 after buying an additional 1,005 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Silver Standard Resources by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company's stock worth $289,000 after buying an additional 1,089 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Silver Standard Resources by 0.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company's stock worth $1,686,000 after purchasing an additional 1,200 shares in the last quarter. Cadence Wealth Management LLC grew its holdings in shares of Silver Standard Resources by 2.8% during the 1st quarter. Cadence Wealth Management LLC now owns 50,290 shares of the basic materials company's stock worth $504,000 after purchasing an additional 1,374 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Silver Standard Resources by 0.4% during the 4th quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company's stock worth $3,462,000 after purchasing an additional 1,884 shares in the last quarter. Institutional investors own 68.30% of the company's stock.

Wall Street Analysts Forecast Growth

SSRM has been the topic of several analyst reports. Cormark raised Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. UBS Group raised Silver Standard Resources from a "neutral" rating to a "buy" rating and increased their target price for the stock from $13.85 to $18.95 in a report on Friday. Zacks Research raised Silver Standard Resources to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. 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. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Silver Standard Resources has a consensus rating of "Moderate Buy" and an average price target of $12.55.

Silver Standard Resources Stock Performance

NASDAQ:SSRM opened at $16.78 on Friday. The stock's 50-day simple moving average is $13.11 and its 200 day simple moving average is $11.35. The firm has a market capitalization of $3.40 billion, a PE ratio of 21.51 and a beta of -0.16. The company has a quick ratio of 1.20, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. Silver Standard Resources Inc. has a twelve month low of $4.82 and a twelve month high of $16.81.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.28. The business had revenue of $410.54 million for the quarter, compared to analyst estimates of $381.08 million. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%. On average, analysts anticipate that Silver Standard Resources Inc. will post 0.73 EPS for the current fiscal year.

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.

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