Bleakley Financial Group LLC Raises Position in Silver Standard Resources Inc. (NASDAQ:SSRM)

Bleakley Financial Group LLC boosted its stake in Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) by 3.9% in the first quarter, Holdings Channel.com reports. The fund owned 26,466 shares of the basic materials company’s stock after buying an additional 1,005 shares during the quarter. Bleakley Financial Group LLC’s holdings in Silver Standard Resources were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. US Bancorp DE lifted its holdings in shares of Silver Standard Resources by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares in the last quarter. Allianz SE bought a new position in shares of Silver Standard Resources in the 4th quarter worth about $30,000. Tower Research Capital LLC TRC lifted its position in Silver Standard Resources by 187.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 8,872 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Silver Standard Resources in the 4th quarter worth approximately $96,000. Finally, Xponance Inc. boosted its holdings in shares of Silver Standard Resources by 9.3% in the fourth quarter. Xponance Inc. now owns 14,387 shares of the basic materials company’s stock worth $100,000 after buying an additional 1,222 shares during the period. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Silver Standard Resources Stock Down 2.3%

Silver Standard Resources stock opened at $12.12 on Friday. The company has a current ratio of 3.95, a quick ratio of 1.85 and a debt-to-equity ratio of 0.08. Silver Standard Resources Inc. has a 12 month low of $4.32 and a 12 month high of $13.48. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 29.56 and a beta of -0.12. The stock has a fifty day simple moving average of $12.21 and a two-hundred day simple moving average of $10.42.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $303.43 million during the quarter, compared to analyst estimates of $332.64 million. Equities analysts predict that Silver Standard Resources Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SSRM. National Bank Financial raised shares of Silver Standard Resources to a “hold” rating in a research report on Friday, March 21st. Wall Street Zen downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. National Bankshares reiterated a “sector perform” rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. UBS Group reaffirmed a “neutral” rating and set a $13.85 price target (up from $12.35) on shares of Silver Standard Resources in a research note on Tuesday, June 24th. Finally, Cormark raised Silver Standard Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Silver Standard Resources presently has a consensus rating of “Hold” and an average target price of $10.53.

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.