Silver Standard Resources (NASDAQ:SSRM) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Shares of Silver Standard Resources recently cleared their 200-day moving average (200‑day MA $18.61), trading as high as $23.88 and last at $23.30 on volume of about 2.77 million — a notable technical breakout.
• Analyst sentiment is mixed but positive overall: MarketBeat shows a consensus "Moderate Buy" with an average target of $20, and recent upgrades include BMO and Wall Street Zen (two analysts rate it Strong Buy while the overall mix includes 2 Strong Buy, 2 Buy, 5 Hold and 1 Sell).
• Fundamentals show a market cap of about $4.73 billion, P/E of 22.4, very low debt-to-equity (0.03) and a current ratio of 2.41; the company beat Q3 EPS ($0.32 vs. $0.31) but missed revenue estimates, and institutional investors own roughly 68.3% of the stock.

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.61 and traded as high as $23.88. Silver Standard Resources shares last traded at $23.30, with a volume of 2,768,921 shares traded.

Analysts Set New Price Targets

Several brokerages recently commented on SSRM. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Silver Standard Resources in a research note on Wednesday, October 8th. Bank of America boosted their target price on shares of Silver Standard Resources from $12.75 to $18.00 and gave the company an "underperform" rating in a research note on Thursday, October 16th. Wall Street Zen raised shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, December 13th. BMO Capital Markets raised shares of Silver Standard Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 30th. Finally, Scotiabank upgraded shares of Silver Standard Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.00.

Silver Standard Resources Trading Up 1.5%

The company has a current ratio of 2.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03. The stock has a market cap of $4.73 billion, a P/E ratio of 22.40 and a beta of -0.10. The business's fifty day simple moving average is $22.05 and its 200 day simple moving average is $18.61.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The company had revenue of $390.16 million during the quarter, compared to the consensus estimate of $444.80 million. Silver Standard Resources had a net margin of 15.36% and a return on equity of 6.46%. As a group, analysts expect that Silver Standard Resources Inc. will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Silver Standard Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Silver Standard Resources by 25.4% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 113,709 shares of the basic materials company's stock worth $1,140,000 after purchasing an additional 23,034 shares during the period. Ieq Capital LLC bought a new position in shares of Silver Standard Resources in the 1st quarter valued at about $173,000. Compound Planning Inc. bought a new position in shares of Silver Standard Resources in the 1st quarter valued at about $289,000. Wellington Management Group LLP grew its position in shares of Silver Standard Resources by 6.3% during the 1st quarter. Wellington Management Group LLP now owns 528,774 shares of the basic materials company's stock worth $5,304,000 after buying an additional 31,396 shares during the period. Finally, Bayforest Capital Ltd bought a new stake in shares of Silver Standard Resources during the first quarter worth approximately $147,000. Institutional investors own 68.30% of the company's stock.

About Silver Standard Resources

Silver Standard Resources Inc NASDAQ: SSRM is a Vancouver‐based precious metals company engaged in the acquisition, exploration, development and production of silver and gold deposits primarily across the Americas. The company’s strategy centers on advancing high‐quality projects into production while maintaining a portfolio of operating mines that deliver consistent metal output. Silver Standard emphasizes sustainable resource development and community partnership at each stage of its operations.

The company’s principal producing assets include the Marigold gold mine in Nevada, which entered commercial production in 2006; the Seabee gold operation in Saskatchewan, Canada, acquired in 2016; and the Pirquitas silver‐gold mine in Argentina, which began producing in 2009.

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