Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $13.66 and last traded at $14.16, with a volume of 106368 shares changing hands. The stock had previously closed at $12.99.
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 net margin of 12.66% and a return on equity of 4.99%. The business had revenue of $410.54 million during the quarter, compared to the consensus estimate of $381.08 million.
Wall Street Analysts Forecast Growth
SSRM has been the subject of a number of analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $13.85 price target (up previously from $12.35) on shares of Silver Standard Resources in a report on Tuesday, June 24th. BMO Capital Markets initiated coverage on shares of Silver Standard Resources in a report on Friday, July 18th. They issued a "market perform" rating and a $13.50 price target for the company. National Bankshares reaffirmed a "sector perform" rating on shares of Silver Standard Resources in a report on Wednesday, April 23rd. Cormark raised shares of Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Finally, 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. Six investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $11.28.
Read Our Latest Research Report on Silver Standard Resources
Institutional Trading of Silver Standard Resources
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSRM. Caitong International Asset Management Co. Ltd purchased a new position in shares of Silver Standard Resources during the first quarter worth approximately $32,000. Tacita Capital Inc acquired a new stake in Silver Standard Resources in the first quarter valued at approximately $48,000. Strs Ohio acquired a new stake in Silver Standard Resources in the first quarter valued at approximately $50,000. Northwest & Ethical Investments L.P. acquired a new stake in Silver Standard Resources in the first quarter valued at approximately $72,000. Finally, Simplicity Wealth LLC acquired a new stake in Silver Standard Resources in the first quarter valued at approximately $109,000. 68.30% of the stock is owned by hedge funds and other institutional investors.
Silver Standard Resources Stock Up 2.4%
The company's 50 day moving average price is $12.76 and its 200 day moving average price is $11.06. The company has a quick ratio of 1.85, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 19.47 and a beta of -0.16.
About Silver Standard Resources
(
Get Free Report)
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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