Silver Standard Resources Inc. (SSRI) Shares Up 7.7%
Silver Standard Resources Inc. (NASDAQ:SSRI) shares shot up 7.7% during trading on Wednesday . The company traded as high as $14.79 and last traded at $14.77, with a volume of 2,821,102 shares trading hands. The stock had previously closed at $13.71.
A number of research firms have recently commented on SSRI. BMO Capital Markets reaffirmed a “hold” rating and set a $10.00 price objective on shares of Silver Standard Resources in a research note on Tuesday, May 31st. Royal Bank Of Canada upped their price objective on shares of Silver Standard Resources from $6.00 to $7.50 in a research note on Tuesday, April 12th. Deutsche Bank AG reaffirmed 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. Scotiabank downgraded shares of Silver Standard Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, June 15th. Finally, 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 price objective for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $9.55.
The firm has a 50-day moving average price of $11.11 and a 200-day moving average price of $7.40. The company’s market capitalization is $1.15 billion.
Silver Standard Resources (NASDAQ:SSRI) last released its quarterly earnings results on Wednesday, May 11th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.13. The company earned $101.51 million during the quarter, compared to analyst estimates of $90.04 million. During the same quarter last year, the business earned $0.11 EPS. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities analysts forecast that Silver Standard Resources Inc. will post $0.43 earnings per share for the current year.
An institutional investor recently raised its position in Silver Standard Resources stock. TD Asset Management Inc. increased its position in shares of Silver Standard Resources Inc. (NASDAQ:SSRI) by 18.9% during the fourth quarter, Holdings Channel reports. The firm 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 at the end of the most recent reporting period.
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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