Silver Standard Resources Inc. (SSRI) Stock Price Down 2.3%
Silver Standard Resources Inc. (NASDAQ:SSRI) shares traded down 2.3% during mid-day trading on Friday . The stock traded as low as $14.18 and last traded at $14.21, with a volume of 1,091,469 shares traded. The stock had previously closed at $14.54.
Several research analysts have issued reports on the company. Scotiabank cut Silver Standard Resources from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, June 15th. National Bank Financial cut Silver Standard Resources from an “outperform” rating to a “sector perform” rating in a research report on Wednesday. Zacks Investment Research cut Silver Standard Resources from a “buy” rating to a “hold” rating in a research report on Thursday, June 16th. BMO Capital Markets reissued a “hold” rating and issued a $10.00 target price on shares of Silver Standard Resources in a research report on Tuesday, May 31st. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $11.50 target price (up from $8.00) on shares of Silver Standard Resources in a research report on Thursday, June 9th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.55.
The firm’s market cap is $1.15 billion. The stock’s 50 day moving average is $12.02 and its 200 day moving average is $7.79.
Silver Standard Resources (NASDAQ:SSRI) last announced its earnings results on Wednesday, May 11th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.13. The business had revenue of $101.51 million for the quarter, compared to analyst estimates of $90.04 million. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 earnings per share. On average, analysts forecast 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. raised its stake in shares of Silver Standard Resources Inc. (NASDAQ:SSRI) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.
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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