Silver Standard Resources Inc. $SSRM Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320,507 shares of the basic materials company’s stock after selling 5,422 shares during the quarter. Rhumbline Advisers owned 0.16% of Silver Standard Resources worth $3,215,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Deutsche Bank AG increased its holdings in Silver Standard Resources by 23.5% during the 4th quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company’s stock worth $2,530,000 after purchasing an additional 69,124 shares during the last quarter. RFG Advisory LLC acquired a new position in Silver Standard Resources during the 1st quarter valued at approximately $206,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Silver Standard Resources by 25.4% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 113,709 shares of the basic materials company’s stock valued at $1,140,000 after purchasing an additional 23,034 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Silver Standard Resources by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,409,521 shares of the basic materials company’s stock worth $14,128,000 after acquiring an additional 30,862 shares during the period. Finally, Ieq Capital LLC acquired a new position in Silver Standard Resources during the 1st quarter worth $173,000. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Silver Standard Resources Trading Up 1.1%

SSRM stock opened at $22.64 on Tuesday. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 29.03 and a beta of -0.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20. The business has a fifty day moving average price of $15.92 and a 200 day moving average price of $12.84. Silver Standard Resources Inc. has a fifty-two week low of $5.06 and a fifty-two week high of $23.07.

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

Wall Street Analysts Forecast Growth

SSRM has been the topic of a number of research reports. Zacks Research downgraded Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. UBS Group upgraded Silver Standard Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.85 to $18.95 in a report on Friday, August 15th. BMO Capital Markets began coverage on Silver Standard Resources in a research note on Friday, July 18th. They issued a “market perform” rating and a $13.50 target price on the stock. Finally, Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.55.

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.