Amundi Sells 225,642 Shares of Silver Standard Resources Inc. $SSRM

Amundi decreased its position in Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) by 19.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 949,706 shares of the basic materials company’s stock after selling 225,642 shares during the period. Amundi owned about 0.47% of Silver Standard Resources worth $9,573,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bleakley Financial Group LLC grew its holdings in shares of Silver Standard Resources by 3.9% in the first quarter. Bleakley Financial Group LLC now owns 26,466 shares of the basic materials company’s stock worth $265,000 after purchasing an additional 1,005 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Silver Standard Resources by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company’s stock valued at $289,000 after acquiring an additional 1,089 shares in the last quarter. Cadence Wealth Management LLC raised its holdings in shares of Silver Standard Resources by 2.8% during the first quarter. Cadence Wealth Management LLC now owns 50,290 shares of the basic materials company’s stock valued at $504,000 after acquiring an additional 1,374 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Silver Standard Resources by 0.4% during the fourth quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company’s stock valued at $3,462,000 after acquiring an additional 1,884 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Silver Standard Resources by 10.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,000 shares of the basic materials company’s stock valued at $153,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Price Performance

SSRM opened at $21.16 on Wednesday. The stock has a fifty day simple moving average of $15.18 and a two-hundred day simple moving average of $12.48. 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 company has a market cap of $4.29 billion, a price-to-earnings ratio of 27.13 and a beta of -0.08. Silver Standard Resources Inc. has a 12-month low of $5.04 and a 12-month high of $21.68.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SSRM shares. UBS Group upgraded Silver Standard Resources from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.85 to $18.95 in a report on Friday, August 15th. Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th. BMO Capital Markets started coverage on Silver Standard Resources in a research report on Friday, July 18th. They set a “market perform” rating and a $13.50 price target on the stock. Finally, Zacks Research upgraded Silver Standard Resources to a “strong-buy” rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.55.

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.