Xponance Inc. Acquires 13,003 Shares of Silver Standard Resources Inc. (NASDAQ:SSRM)

Xponance Inc. raised its holdings in shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) by 90.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,390 shares of the basic materials company’s stock after acquiring an additional 13,003 shares during the quarter. Xponance Inc.’s holdings in Silver Standard Resources were worth $275,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Allianz SE bought a new position in shares of Silver Standard Resources in the fourth quarter valued at $30,000. Simplicity Wealth LLC acquired a new stake in Silver Standard Resources during the 1st quarter valued at $109,000. Merit Financial Group LLC acquired a new stake in shares of Silver Standard Resources during the first quarter worth $113,000. Integrated Advisors Network LLC acquired a new stake in shares of Silver Standard Resources during the first quarter worth $132,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Silver Standard Resources by 19.4% during the first quarter. Principal Financial Group Inc. now owns 13,453 shares of the basic materials company’s stock worth $135,000 after buying an additional 2,190 shares in the last quarter. 68.30% of the stock is owned by institutional investors.

Silver Standard Resources Stock Performance

Silver Standard Resources stock opened at $11.80 on Friday. The stock has a market cap of $2.39 billion, a PE ratio of 28.78 and a beta of -0.12. The company has a quick ratio of 1.85, a current ratio of 3.95 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $12.21 and its two-hundred day moving average price is $10.48. Silver Standard Resources Inc. has a 12-month low of $4.32 and a 12-month high of $13.48.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.21. The company had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $332.64 million. Silver Standard Resources had a return on equity of 2.44% and a net margin of 7.82%. As a group, analysts expect that Silver Standard Resources Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group reaffirmed a “neutral” rating and issued a $13.85 price target (up previously from $12.35) on shares of Silver Standard Resources in a research note on Tuesday, June 24th. Wall Street Zen downgraded Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. National Bankshares reaffirmed a “sector perform” rating on shares of Silver Standard Resources in a research note on Wednesday, April 23rd. Cormark upgraded Silver Standard Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets began coverage on Silver Standard Resources in a research report on Friday. They issued a “market perform” rating and a $13.50 target price on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Silver Standard Resources has an average rating of “Hold” and a consensus price target of $11.28.

Silver Standard Resources Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.