Shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO traded down 6.8% on Tuesday . The stock traded as low as $12.78 and last traded at $12.54. 398,337 shares changed hands during trading, a decline of 84% from the average session volume of 2,480,155 shares. The stock had previously closed at $13.45.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. National Bankshares reaffirmed a "sector perform" rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. Cormark raised shares of Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. National Bank Financial raised shares of Silver Standard Resources to a "hold" rating in a research report on Friday, March 21st. Finally, UBS Group reaffirmed a "neutral" rating and issued a $13.85 target price (up previously from $12.35) on shares of Silver Standard Resources in a research report on Tuesday, June 24th. Five investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $10.53.
Read Our Latest Report on Silver Standard Resources
Silver Standard Resources Price 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 has a market capitalization of $2.56 billion, a PE ratio of 30.91 and a beta of -0.12. The stock's 50 day simple moving average is $12.02 and its 200-day simple moving average is $10.23.
Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share 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 firm had revenue of $303.43 million for the quarter, compared to analyst estimates of $332.64 million. As a group, equities analysts forecast that Silver Standard Resources Inc. will post 0.73 earnings per share for the current fiscal year.
Institutional Trading of Silver Standard Resources
Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Silver Standard Resources by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company's stock worth $72,216,000 after purchasing an additional 71,364 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Silver Standard Resources by 21.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company's stock worth $70,265,000 after purchasing an additional 1,802,821 shares in the last quarter. Federated Hermes Inc. raised its holdings in Silver Standard Resources by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock worth $25,551,000 after purchasing an additional 1,285,347 shares in the last quarter. Tidal Investments LLC raised its holdings in Silver Standard Resources by 14.7% during the fourth quarter. Tidal Investments LLC now owns 3,174,367 shares of the basic materials company's stock worth $22,094,000 after purchasing an additional 407,920 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Silver Standard Resources by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,678,940 shares of the basic materials company's stock worth $18,652,000 after purchasing an additional 38,593 shares in the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.
About Silver Standard Resources
(
Get Free Report)
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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