Silver Standard Resources Inc. (SSRI) Reaches New 52-Week High at $14.89
Silver Standard Resources Inc. (NASDAQ:SSRI)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $14.89 and last traded at $14.84, with a volume of 1,814,945 shares. The stock had previously closed at $14.58.
A number of research firms recently issued reports on SSRI. 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. Zacks Investment Research downgraded shares of Silver Standard Resources from a “buy” rating to a “hold” rating in a research note on Thursday, June 16th. National Bank Financial began coverage on shares of Silver Standard Resources in a research note on Wednesday, June 29th. They issued an “outperform” rating and a $17.00 price target for the company. BMO Capital Markets reissued a “hold” rating and issued a $10.00 price target on shares of Silver Standard Resources in a research note on Tuesday, May 31st. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $11.50 price target (up from $8.00) on shares of Silver Standard Resources in a research note on Thursday, June 9th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Silver Standard Resources has a consensus rating of “Hold” and an average price target of $9.55.
The firm’s market capitalization is $1.19 billion. The firm’s 50-day moving average price is $11.26 and its 200 day moving average price is $7.47.
Silver Standard Resources (NASDAQ:SSRI) last released its quarterly earnings results on Wednesday, May 11th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm posted $0.11 earnings per share. Silver Standard Resources’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts expect that Silver Standard Resources Inc. will post $0.44 EPS for the current fiscal year.
A hedge fund recently raised its stake in Silver Standard Resources stock. TD Asset Management Inc. boosted its position in Silver Standard Resources Inc. (NASDAQ:SSRI) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 about 0.70% of Silver Standard Resources worth $2,909,000 at the end of the most recent quarter.
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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