TriaGen Wealth Management LLC Takes Position in Silver Standard Resources Inc. $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 bought a new stake in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 57,332 shares of the basic materials company's stock, valued at approximately $575,000.

A number of other large investors have also recently made changes to their positions in SSRM. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Silver Standard Resources during the first quarter valued at $32,000. Tacita Capital Inc purchased a new stake in Silver Standard Resources in the 1st quarter worth approximately $48,000. Northwest & Ethical Investments L.P. purchased a new stake in Silver Standard Resources in the 1st quarter worth approximately $72,000. Tower Research Capital LLC TRC boosted its position in Silver Standard Resources by 187.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company's stock worth $95,000 after purchasing an additional 8,872 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in Silver Standard Resources in the 1st quarter worth approximately $109,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Silver Standard Resources Trading Up 1.3%

Shares of SSRM traded up $0.2250 during midday trading on Friday, reaching $17.1450. The company had a trading volume of 3,942,127 shares, compared to its average volume of 2,713,259. Silver Standard Resources Inc. has a 1-year low of $4.82 and a 1-year high of $17.17. The stock has a market cap of $3.48 billion, a PE ratio of 21.98 and a beta of -0.16. The firm has a 50 day simple moving average of $13.44 and a 200-day simple moving average of $11.56. 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 (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.28. The firm had revenue of $410.54 million during 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%. Research analysts forecast that Silver Standard Resources Inc. will post 0.73 EPS 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.