Silver Standard Resources Inc. (NASDAQ:SSRI) shares dropped 2% during trading on Friday . The stock traded as low as $13.00 and last traded at $13.19, with a volume of 822,653 shares changing hands. The stock had previously closed at $13.46.

SSRI has been the subject of several analyst reports. National Bank Financial initiated coverage on shares of Silver Standard Resources in a report on Wednesday, June 29th. They issued an “outperform” rating and a $17.00 price target for the company. Scotiabank downgraded shares of Silver Standard Resources from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, June 15th. CIBC raised shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a report on Monday, June 27th. 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 report on Thursday, June 9th. Finally, Zacks Investment Research downgraded shares of Silver Standard Resources from a “buy” rating to a “hold” rating in a report on Thursday, June 16th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $9.55.

The company’s market capitalization is $1.07 billion. The stock has a 50 day moving average price of $12.47 and a 200-day moving average price of $8.02.

Silver Standard Resources (NASDAQ:SSRI) last released its quarterly earnings data 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 company had revenue of $101.51 million for the quarter, compared to analysts’ expectations of $90.04 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts predict that Silver Standard Resources Inc. will post $0.55 earnings per share for the current fiscal year.

An institutional investor recently raised its position 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 approximately 0.70% of Silver Standard Resources worth $2,909,000 as of its most recent SEC filing.

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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