Macquarie initiated coverage on shares of Silver Standard Resources Inc. (NASDAQ:SSRI) in a report released on Tuesday morning, The Fly reports. The brokerage issued an outperform rating on the stock.
Other research analysts have also recently issued research reports about the stock. BMO Capital Markets set a $19.00 target price on shares of Silver Standard Resources and gave the company a buy rating in a research report on Saturday, September 17th. Scotiabank cut shares of 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 shares of Silver Standard Resources from an outperform rating to a sector perform rating in a research report on Wednesday, July 13th. Zacks Investment Research cut shares of Silver Standard Resources from a buy rating to a hold rating in a research report on Thursday, June 16th. Finally, Citigroup Inc. increased their price target on shares of Silver Standard Resources from $14.00 to $15.00 and gave the stock a neutral rating in a research report on Friday, August 12th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $14.00.
Silver Standard Resources (NASDAQ:SSRI) opened at 12.69 on Tuesday. Silver Standard Resources has a 12 month low of $3.66 and a 12 month high of $15.84. The stock’s market cap is $1.51 billion. The stock has a 50 day moving average of $13.39 and a 200-day moving average of $10.66.
Silver Standard Resources (NASDAQ:SSRI) last posted its earnings results on Wednesday, August 10th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.17. Silver Standard Resources had a negative net margin of 28.69% and a positive return on equity of 2.64%. On average, equities analysts forecast that Silver Standard Resources will post $0.81 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake 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 during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Silver Standard Resources during the second quarter worth $142,000. Shell Asset Management Co. raised its stake 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 during the last quarter. Highbridge Capital Management LLC purchased a new stake in Silver Standard Resources during the second quarter worth $156,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Silver Standard Resources during the second quarter worth $160,000. Hedge funds and other institutional investors own 47.53% of the company’s stock.
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.
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