Silver Standard Resources (NASDAQ:SSRM) Reaches New 52-Week High - Here's Why

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO's stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.33 and last traded at $13.19, with a volume of 1544036 shares traded. The stock had previously closed at $12.86.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday. UBS Group increased their target price on shares of Silver Standard Resources from $12.10 to $12.35 and gave the company a "buy" rating in a research report on Friday, April 11th. National Bankshares restated a "sector perform" rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. National Bank Financial raised shares of Silver Standard Resources to a "hold" rating in a research note on Friday, March 21st. Finally, Cormark upgraded shares of Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.03.

Silver Standard Resources Stock Performance

The company has a fifty day moving average price of $11.41 and a two-hundred day moving average price of $9.71. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 31.07 and a beta of -0.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.95 and a quick ratio of 1.85.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.08 by $0.21. Silver Standard Resources had a net margin of 7.82% and a return on equity of 2.44%. The firm had revenue of $303.43 million for the quarter, compared to analysts' expectations of $332.64 million. As a group, equities research analysts expect that Silver Standard Resources Inc. will post 0.73 EPS for the current year.

Institutional Trading of Silver Standard Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG boosted its holdings in Silver Standard Resources by 23.5% during the fourth quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company's stock worth $2,530,000 after buying an additional 69,124 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Silver Standard Resources by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock valued at $13,351,000 after acquiring an additional 370,006 shares during the last quarter. RFG Advisory LLC bought a new stake in shares of Silver Standard Resources during the 1st quarter worth $206,000. American Century Companies Inc. boosted its stake in shares of Silver Standard Resources by 99.3% during the 4th quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company's stock worth $3,528,000 after acquiring an additional 252,293 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Silver Standard Resources by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,378,659 shares of the basic materials company's stock worth $9,614,000 after acquiring an additional 51,408 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors.

Silver Standard Resources Company 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.