Silver Standard Resources Inc. (NASDAQ:SSRI)’s share price dropped 4% during mid-day trading on Tuesday . The stock traded as low as $12.24 and last traded at $12.38, with a volume of 1,465,751 shares traded. The stock had previously closed at $12.90.

SSRI has been the topic of several recent research reports. BMO Capital Markets upgraded Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research report on Tuesday, August 23rd. Citigroup Inc. initiated coverage on Silver Standard Resources in a research report on Tuesday, August 2nd. They set a “neutral” rating and a $14.00 price target on the stock. CIBC upgraded Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, June 27th. National Bank Financial lowered Silver Standard Resources from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 13th. Finally, Zacks Investment Research lowered Silver Standard Resources from a “buy” rating to a “hold” rating in a research report on Thursday, June 16th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Silver Standard Resources has an average rating of “Buy” and a consensus target price of $12.91.

The firm has a 50 day moving average of $13.85 and a 200-day moving average of $9.91. The firm’s market capitalization is $1.40 billion.

Silver Standard Resources (NASDAQ:SSRI) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.17. On average, equities analysts forecast that Silver Standard Resources Inc. will post $0.81 earnings per share 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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