Silver Standard Resources (NASDAQ:SSRM) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.22 and traded as high as $22.59. Silver Standard Resources shares last traded at $22.45, with a volume of 3,289,944 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. UBS Group cut Silver Standard Resources from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $18.95 to $22.95 in a report on Friday, September 19th. CIBC upped their price objective on Silver Standard Resources from $25.00 to $28.50 and gave the company a "neutral" rating in a research note on Friday, October 10th. BMO Capital Markets raised Silver Standard Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Silver Standard Resources in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.19.

Silver Standard Resources Price Performance

The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $21.46 and a 200-day moving average of $15.22. The firm has a market capitalization of $4.55 billion, a P/E ratio of 28.78 and a beta of -0.09.

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

Institutional Investors Weigh In On Silver Standard Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its position in Silver Standard Resources by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company's stock worth $289,000 after buying an additional 1,089 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of Silver Standard Resources during the 1st quarter worth $177,000. Principal Financial Group Inc. increased its position in shares of Silver Standard Resources by 19.4% in the first quarter. Principal Financial Group Inc. now owns 13,453 shares of the basic materials company's stock worth $135,000 after purchasing an additional 2,190 shares during the period. Alps Advisors Inc. acquired a new position in Silver Standard Resources in the first quarter valued at about $292,000. Finally, Xponance Inc. lifted its position in Silver Standard Resources by 90.4% during the first quarter. Xponance Inc. now owns 27,390 shares of the basic materials company's stock worth $275,000 after purchasing an additional 13,003 shares during the period. 68.30% of the stock is currently owned by institutional investors and hedge funds.

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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