Bayforest Capital Ltd Purchases New Shares in Silver Standard Resources Inc. (NASDAQ:SSRM)

Bayforest Capital Ltd purchased a new stake in shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,636 shares of the basic materials company’s stock, valued at approximately $147,000.

Other hedge funds and other institutional investors have also recently bought and sold shares 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 valued at $2,530,000 after purchasing an additional 69,124 shares in the last quarter. RFG Advisory LLC acquired a new stake in Silver Standard Resources during the 1st quarter valued at $206,000. JPMorgan Chase & Co. increased its holdings in Silver Standard Resources by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company’s stock valued at $13,351,000 after purchasing an additional 370,006 shares in the last quarter. American Century Companies Inc. increased its holdings in Silver Standard Resources by 99.3% during the 4th quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company’s stock valued at $3,528,000 after purchasing an additional 252,293 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Silver Standard Resources by 36.1% during the 4th quarter. Sei Investments Co. now owns 253,733 shares of the basic materials company’s stock valued at $1,766,000 after purchasing an additional 67,369 shares in the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

Silver Standard Resources Stock Up 1.0%

NASDAQ:SSRM opened at $12.07 on Friday. Silver Standard Resources Inc. has a 12-month low of $4.32 and a 12-month high of $13.48. 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 firm has a market capitalization of $2.45 billion, a P/E ratio of 29.44 and a beta of -0.12. The stock’s fifty day simple moving average is $12.50 and its 200-day simple moving average is $10.81.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on SSRM. 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 for the company. National Bankshares reissued a “sector perform” rating on shares of Silver Standard Resources in a research note on Wednesday, April 23rd. Cormark raised Silver Standard Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, April 22nd. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Finally, UBS Group reissued a “neutral” rating and issued a $13.85 target price (up from $12.35) on shares of Silver Standard Resources in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.