Silver Standard Resources Inc. (NASDAQ:SSRM) Short Interest Up 27.9% in August

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO was the target of a large increase in short interest in August. As of August 15th, there was short interest totaling 9,640,000 shares, anincreaseof27.9% from the July 31st total of 7,540,000 shares. Approximately4.8% of the company's stock are short sold. Based on an average daily volume of 3,010,000 shares, the short-interest ratio is currently 3.2 days. Based on an average daily volume of 3,010,000 shares, the short-interest ratio is currently 3.2 days. Approximately4.8% of the company's stock are short sold.

Silver Standard Resources Trading Up 1.4%

NASDAQ SSRM opened at $21.39 on Tuesday. Silver Standard Resources has a 12 month low of $4.87 and a 12 month high of $21.69. 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 company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 27.42 and a beta of -0.08. The company's fifty day moving average price is $15.01 and its two-hundred day moving average price is $12.42.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Silver Standard Resources in a report on Friday, July 18th. They set a "market perform" rating and a $13.50 price target for the company. Wall Street Zen raised shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. UBS Group raised shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and raised their price target for the company from $13.85 to $18.95 in a report on Friday, August 15th. Finally, Zacks Research raised shares of Silver Standard Resources to a "strong-buy" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.55.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new position in Silver Standard Resources during the 1st quarter valued at $32,000. Tacita Capital Inc bought a new position in shares of Silver Standard Resources in the 1st quarter worth about $48,000. Strs Ohio bought a new position in shares of Silver Standard Resources in the 1st quarter worth about $50,000. Northwest & Ethical Investments L.P. bought a new position in shares of Silver Standard Resources in the 1st quarter worth about $72,000. Finally, Simplicity Wealth LLC bought a new position in shares of Silver Standard Resources in the 1st quarter worth about $109,000. 68.30% of the stock is currently owned by institutional investors.

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.

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