Shares of Silver Standard Resources Inc. (NASDAQ:SSRI) shot up 7.7% during mid-day trading on Wednesday . The stock traded as high as $14.79 and last traded at $14.77, with a volume of 2,821,102 shares. The stock had previously closed at $13.71.

A number of equities research analysts have issued reports on SSRI shares. National Bank Financial began coverage on shares of Silver Standard Resources in a research note on Wednesday, June 29th. They set an “outperform” rating and a $17.00 target price on the stock. CIBC raised shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, June 27th. Zacks Investment Research lowered shares of Silver Standard Resources from a “buy” rating to a “hold” rating in a research note on Thursday, June 16th. Scotiabank lowered shares of Silver Standard Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, June 15th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $11.50 price objective (up previously from $8.00) on shares of Silver Standard Resources in a research note on Thursday, June 9th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Silver Standard Resources has an average rating of “Hold” and a consensus target price of $9.55.

The firm has a 50-day moving average price of $10.82 and a 200 day moving average price of $7.30. The company’s market capitalization is $1.20 billion.

Silver Standard Resources (NASDAQ:SSRI) last posted its earnings results on Wednesday, May 11th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.13. The firm had revenue of $101.51 million for the quarter, compared to analysts’ expectations of $90.04 million. During the same period last year, the firm earned $0.11 earnings per share. Silver Standard Resources’s revenue for the quarter was down 9.1% compared to the same quarter last year. Equities research analysts expect that Silver Standard Resources Inc. will post $0.39 EPS for the current year.

An institutional investor recently raised its position in Silver Standard Resources stock. TD Asset Management Inc. boosted its stake in shares of Silver Standard Resources Inc. (NASDAQ:SSRI) by 18.9% during the fourth quarter, Holdings Channel reports. The fund owned 564,342 shares of the company’s stock after buying an additional 89,890 shares during the period. TD Asset Management Inc. owned approximately 0.70% of Silver Standard Resources worth $2,909,000 as of its most recent filing with the SEC.

Silver Standard Resources Inc is a resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company operates through three segments: Pirquitas mine, Marigold mine, and Exploration and evaluation properties.

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