Published On: Tue, Sep 20th, 2016

Silver Standard Resources Inc. (SSRI) Coverage Initiated by Analysts at Macquarie

Research analysts at Macquarie assumed coverage on shares of Silver Standard Resources Inc. (NASDAQ:SSRI) in a research note issued on Tuesday. The brokerage set an “outperform” rating on the stock.
Several other analysts also recently commented on the stock. BMO Capital Markets set a $19.00 price objective on shares of Silver Standard Resources and gave the company a “buy” rating in a report on Saturday. Zacks Investment Research raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, August 31st. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Silver Standard Resources in a report on Sunday, August 14th. Citigroup Inc. upped their price objective on shares of Silver Standard Resources from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, August 12th. Finally, National Bank Financial downgraded shares of Silver Standard Resources from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 13th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $14.00.

Shares of Silver Standard Resources (NASDAQ:SSRI) traded up 1.88% during midday trading on Tuesday, reaching $12.49. 555,335 shares of the company traded hands. The company has a 50 day moving average price of $13.50 and a 200 day moving average price of $10.53. The company’s market capitalization is $1.49 billion. Silver Standard Resources has a 1-year low of $3.66 and a 1-year high of $15.84.

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Silver Standard Resources (NASDAQ:SSRI) last released its earnings results on Wednesday, August 10th. The company reported $0.25 earnings per share for the quarter, topping the 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, analysts expect that Silver Standard Resources will post $0.81 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of SSRI. Van ECK Associates Corp boosted its position in Silver Standard Resources by 177.4% in the second quarter. Van ECK Associates Corp now owns 17,980,886 shares of the company’s stock worth $233,572,000 after buying an additional 11,498,367 shares in the last quarter. Sun Valley Gold LLC boosted its position in Silver Standard Resources by 104.3% in the first quarter. Sun Valley Gold LLC now owns 3,890,287 shares of the company’s stock worth $21,591,000 after buying an additional 1,986,400 shares in the last quarter. Renaissance Technologies LLC boosted its position in Silver Standard Resources by 66.4% in the first quarter. Renaissance Technologies LLC now owns 3,517,956 shares of the company’s stock worth $19,525,000 after buying an additional 1,403,656 shares in the last quarter. Vanguard Group Inc. boosted its position in Silver Standard Resources by 66.1% in the second quarter. Vanguard Group Inc. now owns 2,012,251 shares of the company’s stock worth $26,139,000 after buying an additional 801,091 shares in the last quarter. Finally, Sentry Investments Corp. boosted its position in Silver Standard Resources by 36.3% in the first quarter. Sentry Investments Corp. now owns 1,807,081 shares of the company’s stock worth $13,065,000 after buying an additional 481,081 shares in the last quarter. Institutional investors own 47.52% 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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