Vident Advisory LLC Increases Holdings 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 stake in Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 25.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,645 shares of the basic materials company's stock after buying an additional 12,770 shares during the quarter. Vident Advisory LLC's holdings in Silver Standard Resources were worth $628,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SSRM. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in Silver Standard Resources during the 4th quarter worth $156,000. Tower Research Capital LLC TRC boosted its stake in shares of Silver Standard Resources by 187.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 8,872 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Silver Standard Resources by 21.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,505 shares of the basic materials company's stock valued at $568,000 after purchasing an additional 14,601 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Silver Standard Resources by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company's stock worth $1,686,000 after acquiring an additional 1,200 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Silver Standard Resources by 7.1% in the fourth quarter. Northern Trust Corp now owns 1,342,744 shares of the basic materials company's stock worth $9,345,000 after acquiring an additional 89,155 shares during the period. Institutional investors and hedge funds own 68.30% of the company's stock.

Silver Standard Resources Stock Performance

Shares of SSRM traded up $0.79 during trading hours on Thursday, hitting $22.76. The stock had a trading volume of 2,498,942 shares, compared to its average volume of 3,454,848. The firm has a market capitalization of $4.62 billion, a PE ratio of 29.18 and a beta of -0.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20. The stock has a fifty day moving average price of $15.55 and a 200 day moving average price of $12.63. Silver Standard Resources Inc. has a 12 month low of $5.06 and a 12 month high of $22.77.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SSRM shares. UBS Group upgraded Silver Standard Resources from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $13.85 to $18.95 in a report on Friday, August 15th. 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 price objective on the stock. Zacks Research lowered Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, Wall Street Zen upgraded Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $12.55.

About Silver Standard Resources

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.