Vident Advisory LLC Has $628,000 Stake in Silver Standard Resources Inc. $SSRM

Key Points

• Vident Advisory LLC increased its holdings in Silver Standard Resources Inc. by 25.6%, acquiring 12,770 shares to own a total of 62,645 shares worth $628,000.
• Several institutional investors, including Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A., have significantly increased their positions in Silver Standard Resources, with institutional ownership now at 68.30%.
• Equities research analysts have upgraded Silver Standard Resources to a "strong-buy" rating, with one analyst raising the target price from $13.85 to $18.95.

Vident Advisory LLC increased its holdings in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 25.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,645 shares of the basic materials company's stock after acquiring an additional 12,770 shares during the period. Vident Advisory LLC's holdings in Silver Standard Resources were worth $628,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 during the last quarter. Tidal Investments LLC boosted its position in 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 valued at $22,094,000 after buying an additional 407,920 shares during the last quarter. Voloridge Investment Management LLC boosted its position in 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 valued at $15,339,000 after buying an additional 399,806 shares during the last quarter. Nuveen LLC bought a new position in Silver Standard Resources in the 1st quarter valued at $18,759,000. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 valued at $14,128,000 after buying an additional 30,862 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors.

Silver Standard Resources Stock Up 3.2%

Shares of NASDAQ:SSRM traded up $0.67 during midday trading on Wednesday, reaching $21.83. The company had a trading volume of 1,877,481 shares, compared to its average volume of 2,794,775. The company has a quick ratio of 1.20, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. The business's 50 day moving average price is $15.18 and its 200 day moving average price is $12.48. The stock has a market cap of $4.43 billion, a PE ratio of 28.01 and a beta of -0.08. Silver Standard Resources Inc. has a 1-year low of $5.06 and a 1-year high of $22.02.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.28. The business 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%. Research analysts forecast that Silver Standard Resources Inc. will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on SSRM shares. Wall Street Zen upgraded Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Zacks Research upgraded Silver Standard Resources to a "strong-buy" rating in a report on Monday, August 11th. UBS Group upgraded Silver Standard Resources from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $13.85 to $18.95 in a report on Friday, August 15th. Finally, BMO Capital Markets started 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.55.

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.