XTX Topco Ltd Has $203,000 Stock Position in Silver Standard Resources Inc. (NASDAQ:SSRM)

Key Points

• XTX Topco Ltd significantly reduced its stake in Silver Standard Resources by 76.4%, now holding 20,221 shares valued at approximately $203,000.
• In the 1st quarter, several large investors, including Bleakley Financial Group and Cadence Wealth Management, increased their holdings in Silver Standard Resources, indicating renewed interest among institutional investors.
• Silver Standard Resources reported adjusted earnings of $0.51 per share for the last quarter, exceeding expectations, with revenue reaching $410.54 million.

XTX Topco Ltd reduced its stake in shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 76.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,221 shares of the basic materials company's stock after selling 65,599 shares during the quarter. XTX Topco Ltd's holdings in Silver Standard Resources were worth $203,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bleakley Financial Group LLC lifted its position in shares of 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 last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of 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 last quarter. The Manufacturers Life Insurance Company lifted its position 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 buying an additional 1,200 shares during the last quarter. Cadence Wealth Management LLC lifted its position 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 buying an additional 1,374 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position 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 buying an additional 1,884 shares during the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SSRM has been the subject of several recent analyst reports. Cormark upgraded Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. UBS Group reiterated a "neutral" rating and issued a $13.85 target price (up from $12.35) on shares of Silver Standard Resources in a research report on Tuesday, June 24th. Wall Street Zen upgraded Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. National Bankshares reiterated a "sector perform" rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets assumed coverage on Silver Standard Resources in a research report on Friday, July 18th. They issued a "market perform" rating and a $13.50 target price for the company. Six equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $11.28.

Silver Standard Resources Price Performance

Silver Standard Resources stock opened at $16.35 on Thursday. The company has a market capitalization of $3.32 billion, a PE ratio of 20.96 and a beta of -0.16. The stock has a 50-day moving average price of $12.96 and a two-hundred day moving average price of $11.20. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. Silver Standard Resources Inc. has a 12 month low of $4.76 and a 12 month high of $16.46.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results 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 company had revenue of $410.54 million during the quarter, compared to analysts' expectations of $381.08 million. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%. Analysts expect that Silver Standard Resources Inc. will post 0.73 EPS for the current 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.

Want to see what other hedge funds are holding SSRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silver Standard Resources Inc. (NASDAQ:SSRM - Free Report) TSE: SSO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.