Deutsche Bank AG Cuts Position in Silver Standard Resources Inc. $SSRM

Deutsche Bank AG trimmed its position in Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) by 7.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 336,311 shares of the basic materials company’s stock after selling 27,183 shares during the period. Deutsche Bank AG owned about 0.17% of Silver Standard Resources worth $3,373,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in Silver Standard Resources by 187.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company’s stock worth $95,000 after buying an additional 8,872 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in Silver Standard Resources in the 1st quarter worth about $109,000. Merit Financial Group LLC acquired a new stake in Silver Standard Resources in the 1st quarter worth about $113,000. Triasima Portfolio Management inc. acquired a new stake in Silver Standard Resources in the 1st quarter worth about $117,000. Finally, Two Sigma Securities LLC acquired a new stake in Silver Standard Resources in the 4th quarter worth about $120,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SSRM has been the topic of several research analyst reports. Cormark upgraded Silver Standard Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, April 22nd. BMO Capital Markets started coverage on Silver Standard Resources in a report on Friday, July 18th. They issued a “market perform” rating and a $13.50 price objective on the stock. UBS Group upgraded Silver Standard Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $13.85 to $18.95 in a report on Friday. Zacks Research upgraded Silver Standard Resources to a “strong-buy” rating in a report on Monday, August 11th. Finally, Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 26th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.55.

Silver Standard Resources Stock Performance

Shares of Silver Standard Resources stock opened at $16.78 on Tuesday. The stock has a market cap of $3.40 billion, a P/E ratio of 21.51 and a beta of -0.16. The stock’s 50 day simple moving average is $13.19 and its 200-day simple moving average is $11.43. Silver Standard Resources Inc. has a 1-year low of $4.82 and a 1-year high of $16.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.23 by $0.28. The firm had revenue of $410.54 million for the quarter, compared to analyst estimates of $381.08 million. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. Analysts predict that Silver Standard Resources Inc. will post 0.73 EPS for the current fiscal year.

Silver Standard Resources 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.