Shares of Silver Standard Resources Inc. (NASDAQ:SSRI) rose 4% during trading on Wednesday . The stock traded as high as $13.51 and last traded at $13.50, with a volume of 1,667,715 shares traded. The stock had previously closed at $12.98.

SSRI has been the subject of several recent analyst reports. Scotiabank upgraded shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, April 7th. Royal Bank Of Canada increased their price target on shares of Silver Standard Resources from $6.00 to $7.50 in a report on Tuesday, April 12th. CIBC upgraded 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 reiterated a “hold” rating and issued a $11.50 price target (up previously from $8.00) on shares of Silver Standard Resources in a report on Thursday, June 9th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $10.00 price target on shares of Silver Standard Resources in a report on Tuesday, May 31st. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $9.55.

The firm’s 50-day moving average is $12.83 and its 200-day moving average is $8.27. The firm’s market capitalization is $1.10 billion.

Silver Standard Resources (NASDAQ:SSRI) last announced its quarterly earnings results on Wednesday, May 11th. The company reported $0.11 earnings per share (EPS) 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 analyst estimates of $90.04 million. During the same period last year, the firm posted $0.11 EPS. The business’s revenue was down 9.1% compared to the same quarter last year. Analysts anticipate that Silver Standard Resources Inc. will post $0.58 earnings per share for the current fiscal year.

A hedge fund recently raised its stake 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, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 about 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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