Russell Investments Group Ltd. Raises Stock Holdings in Silver Standard Resources Inc. $SSRM

Russell Investments Group Ltd. boosted its stake in Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) by 2,392.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 579,552 shares of the basic materials company’s stock after buying an additional 556,299 shares during the period. Russell Investments Group Ltd. owned approximately 0.29% of Silver Standard Resources worth $5,813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bleakley Financial Group LLC raised its holdings in Silver Standard Resources by 3.9% in the 1st quarter. Bleakley Financial Group LLC now owns 26,466 shares of the basic materials company’s stock valued at $265,000 after buying an additional 1,005 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Silver Standard Resources by 3.9% in the 1st 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. The Manufacturers Life Insurance Company grew its position in Silver Standard Resources by 0.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company’s stock valued at $1,686,000 after acquiring an additional 1,200 shares in the last quarter. Cadence Wealth Management LLC grew its position in Silver Standard Resources by 2.8% in the 1st 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. Finally, Wellington Management Group LLP grew its position in Silver Standard Resources by 0.4% in the 4th 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. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Silver Standard Resources Stock Performance

Shares of Silver Standard Resources stock opened at $16.45 on Thursday. Silver Standard Resources Inc. has a one year low of $4.82 and a one year high of $16.91. The company has a market cap of $3.34 billion, a PE ratio of 21.09 and a beta of -0.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. The business has a 50-day simple moving average of $13.35 and a 200-day simple moving average of $11.50.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $381.08 million. On average, equities research analysts forecast that Silver Standard Resources Inc. will post 0.73 EPS for the current fiscal year.

About Silver Standard Resources

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.