Silver Standard Resources (NASDAQ:SSRM) Shares Gap Down - Time to Sell?

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO gapped down before the market opened on Tuesday . The stock had previously closed at $13.03, but opened at $12.61. Silver Standard Resources shares last traded at $12.36, with a volume of 1,456,766 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SSRM. UBS Group reiterated a "neutral" rating and issued a $13.85 price target (up from $12.35) on shares of Silver Standard Resources in a research report on Tuesday. National Bank Financial raised shares of Silver Standard Resources to a "hold" rating in a report on Friday, March 21st. Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. National Bankshares restated a "sector perform" rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. Finally, Cormark raised Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $10.53.

Silver Standard Resources Stock Performance

The business's fifty day moving average price is $11.51 and its two-hundred day moving average price is $9.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.85 and a current ratio of 3.95. The stock has a market capitalization of $2.50 billion, a P/E ratio of 30.01 and a beta of -0.13.

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

Institutional Investors Weigh In On Silver Standard Resources

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in Silver Standard Resources by 1.1% in the fourth quarter. Rhumbline Advisers now owns 325,929 shares of the basic materials company's stock worth $2,268,000 after purchasing an additional 3,681 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Silver Standard Resources during the fourth quarter valued at $847,000. Proficio Capital Partners LLC bought a new stake in shares of Silver Standard Resources in the fourth quarter valued at about $158,000. US Bancorp DE lifted its stake in Silver Standard Resources by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock worth $25,000 after acquiring an additional 1,360 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Silver Standard Resources during the 4th quarter worth about $29,000. Institutional investors own 68.30% of the company's stock.

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.