Silver Standard Resources Inc. (NASDAQ:SSRI) shares dropped 2.7% during trading on Wednesday . The stock traded as low as $13.60 and last traded at $13.77, with a volume of 1,091,426 shares trading hands. The stock had previously closed at $14.15.

Several research analysts have recently commented on the stock. Citigroup Inc. initiated coverage on shares of Silver Standard Resources in a report on Tuesday. They issued a “neutral” rating and a $14.00 target price on the stock. 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 target price on the stock. Scotiabank cut 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. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $11.50 target price (up previously from $8.00) on shares of Silver Standard Resources in a report on Thursday, June 9th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Silver Standard Resources currently has an average rating of “Hold” and a consensus target price of $10.52.

The firm has a 50 day moving average price of $13.26 and a 200-day moving average price of $8.64. The company’s market cap is $1.08 billion.

Silver Standard Resources (NASDAQ:SSRI) last posted its quarterly earnings data 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 had revenue of $101.51 million for the quarter, compared to analyst estimates of $90.04 million. The company’s revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. Equities analysts expect that Silver Standard Resources Inc. will post $0.58 EPS for the current year.

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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