Silver Standard Resources (NASDAQ:SSRM) Sets New 52-Week High - Time to Buy?

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO shares hit a new 52-week high during mid-day trading on Wednesday . The company 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.

Analysts Set New Price Targets

SSRM has been the subject of a number of recent research reports. UBS Group boosted their price target on shares of Silver Standard Resources from $12.10 to $12.35 and gave the company a "buy" rating in a research note on Friday, April 11th. National Bank Financial raised shares of Silver Standard Resources to a "hold" rating in a research report on Friday, March 21st. CIBC raised their price target on shares of Silver Standard Resources from $8.25 to $9.75 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Cormark upgraded Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. Finally, National Bankshares reissued a "sector perform" rating on shares of Silver Standard Resources in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Silver Standard Resources currently has an average rating of "Hold" and an average target price of $10.03.

Silver Standard Resources Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 3.95 and a quick ratio of 1.85. The company's fifty day moving average price is $11.25 and its 200 day moving average price is $9.56. The company has a market cap of $2.65 billion, a PE ratio of 31.88 and a beta of -0.13.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings data on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $303.43 million during the quarter, compared to the consensus estimate of $332.64 million. On average, equities research analysts predict that Silver Standard Resources Inc. will post 0.73 earnings per share for the current year.

Institutional Trading of Silver Standard Resources

A number of institutional investors and hedge funds have recently modified their holdings of SSRM. Caitong International Asset Management Co. Ltd bought a new position in Silver Standard Resources in the 1st quarter valued at $32,000. US Bancorp DE boosted its holdings in shares of Silver Standard Resources by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock worth $25,000 after buying an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Silver Standard Resources during the fourth quarter valued at about $29,000. Allianz SE purchased a new stake in Silver Standard Resources during the fourth quarter worth about $30,000. Finally, Tacita Capital Inc bought a new stake in Silver Standard Resources in the first quarter worth about $48,000. 68.30% of the stock is owned by hedge funds and other 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.

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