Swiss National Bank Sells 5,300 Shares of Silver Standard Resources Inc. $SSRM

Swiss National Bank reduced its stake in Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 394,600 shares of the basic materials company’s stock after selling 5,300 shares during the quarter. Swiss National Bank owned approximately 0.19% of Silver Standard Resources worth $3,957,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Simplicity Wealth LLC purchased a new stake in Silver Standard Resources in the 1st quarter worth $109,000. Merit Financial Group LLC purchased a new stake in Silver Standard Resources in the 1st quarter worth $113,000. Triasima Portfolio Management inc. purchased a new stake in Silver Standard Resources in the 1st quarter worth $117,000. Integrated Advisors Network LLC purchased a new stake in Silver Standard Resources in the 1st quarter worth $132,000. Finally, Principal Financial Group Inc. increased its stake in Silver Standard Resources by 19.4% in the 1st 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. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BMO Capital Markets assumed coverage on Silver Standard Resources in a research note on Friday, July 18th. They issued a “market perform” rating and a $13.50 price target for the company. Zacks Research upgraded Silver Standard Resources to a “strong-buy” rating in a research note on Monday, August 11th. Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 26th. UBS Group upgraded Silver Standard Resources from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.85 to $18.95 in a research report on Friday, August 15th. Finally, National Bankshares restated a “sector perform” rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.55.

Silver Standard Resources Trading Up 2.2%

SSRM opened at $16.45 on Thursday. The firm has a market cap of $3.34 billion, a P/E ratio of 21.09 and a beta of -0.16. Silver Standard Resources Inc. has a 12 month low of $4.82 and a 12 month high of $16.91. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $13.35 and a 200 day moving average of $11.50.

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, topping the consensus estimate of $0.23 by $0.28. The company had revenue of $410.54 million during the quarter, compared to analyst estimates of $381.08 million. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%. As a group, research analysts forecast that Silver Standard Resources Inc. will post 0.73 EPS for the current year.

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.