Macquarie assumed coverage on shares of Silver Standard Resources Inc. (NASDAQ:SSRI) in a note issued to investors on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the stock.

A number of other equities research analysts also recently commented on SSRI. BMO Capital Markets reiterated a “hold” rating and issued a $10.00 target price on shares of Silver Standard Resources in a research report on Tuesday, May 31st. Deutsche Bank AG restated a “hold” rating and set a $11.50 price objective (up from $8.00) on shares of Silver Standard Resources in a research report on Thursday, June 9th. Scotiabank downgraded Silver Standard Resources from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, June 15th. Zacks Investment Research downgraded Silver Standard Resources from a “buy” rating to a “hold” rating in a research report on Thursday, June 16th. Finally, CIBC upgraded Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, June 27th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.00.

Analyst Recommendations for Silver Standard Resources (NASDAQ:SSRI)

Silver Standard Resources (NASDAQ:SSRI) opened at 13.39 on Tuesday. Silver Standard Resources has a 1-year low of $3.66 and a 1-year high of $15.84. The stock has a 50 day moving average price of $13.43 and a 200-day moving average price of $10.60. The stock’s market cap is $1.59 billion.

Silver Standard Resources (NASDAQ:SSRI) last posted its earnings results on Wednesday, August 10th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.17. Silver Standard Resources had a positive return on equity of 2.64% and a negative net margin of 28.69%. On average, equities analysts expect that Silver Standard Resources will post $0.81 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its position in Silver Standard Resources by 60.5% in the first quarter. LPL Financial LLC now owns 22,090 shares of the company’s stock worth $124,000 after buying an additional 8,324 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Silver Standard Resources during the second quarter worth approximately $142,000. Shell Asset Management Co. boosted its position in Silver Standard Resources by 15.1% in the second quarter. Shell Asset Management Co. now owns 9,166 shares of the company’s stock worth $154,000 after buying an additional 1,200 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in Silver Standard Resources during the second quarter worth approximately $156,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Silver Standard Resources during the second quarter worth approximately $160,000. 47.53% of the stock is currently owned by hedge funds and other institutional investors.

About Silver Standard Resources

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.

5 Day Chart for NASDAQ:SSRI

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