Silver Standard Resources Inc. (SSRI) Shares Up 2.4%
Silver Standard Resources Inc. (NASDAQ:SSRI) shares shot up 2.4% during trading on Wednesday . The company traded as high as $14.70 and last traded at $14.66, with a volume of 2,264,319 shares. The stock had previously closed at $14.32.
A number of brokerages have commented on SSRI. National Bank Financial cut shares of Silver Standard Resources from an “outperform” rating to a “sector perform” rating in a research note on Wednesday. CIBC upgraded 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 cut shares of Silver Standard Resources from a “buy” rating to a “hold” rating in a research note on Thursday, June 16th. Scotiabank cut 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 restated a “hold” rating and set a $11.50 price target (up previously from $8.00) on shares of Silver Standard Resources in a research note on Thursday, June 9th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Silver Standard Resources currently has a consensus rating of “Hold” and a consensus target price of $9.55.
The firm’s 50 day moving average price is $11.72 and its 200 day moving average price is $7.68. The company’s market capitalization is $1.19 billion.
Silver Standard Resources (NASDAQ:SSRI) last announced its quarterly earnings results on Wednesday, May 11th. The company reported $0.11 EPS 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 company posted $0.11 EPS. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities research analysts expect that Silver Standard Resources Inc. will post $0.44 EPS for the current year.
A hedge fund recently raised its stake in Silver Standard Resources stock. TD Asset Management Inc. raised its position in shares of Silver Standard Resources Inc. (NASDAQ:SSRI) by 18.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 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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