Martingale Asset Management L P lessened its stake in shares of Silver Standard Resources Inc. (NASDAQ:SSRM – Free Report) (TSE:SSO) by 31.3% during the 1st quarter, Holdings Channel reports. The firm owned 259,068 shares of the basic materials company’s stock after selling 118,221 shares during the quarter. Martingale Asset Management L P’s holdings in Silver Standard Resources were worth $2,598,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of the stock. Bleakley Financial Group LLC grew its position in Silver Standard Resources by 3.9% during the 1st 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 grew its position in Silver Standard Resources by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company’s stock worth $289,000 after purchasing an additional 1,089 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Silver Standard Resources by 0.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company’s stock worth $1,686,000 after purchasing an additional 1,200 shares during the last quarter. Cadence Wealth Management LLC grew its position in Silver Standard Resources by 2.8% during the 1st quarter. Cadence Wealth Management LLC now owns 50,290 shares of the basic materials company’s stock worth $504,000 after purchasing an additional 1,374 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Silver Standard Resources by 0.4% during the 4th quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company’s stock worth $3,462,000 after purchasing an additional 1,884 shares during the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.
Silver Standard Resources Trading Up 1.1%
Shares of Silver Standard Resources stock opened at $17.11 on Friday. 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 firm has a fifty day moving average price of $13.53 and a 200 day moving average price of $11.62. Silver Standard Resources Inc. has a 1 year low of $4.82 and a 1 year high of $17.17. The stock has a market cap of $3.47 billion, a PE ratio of 21.94 and a beta of -0.16.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Silver Standard Resources in a research report on Friday, July 18th. They set a “market perform” rating and a $13.50 target price on the stock. Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 26th. Zacks Research raised shares of Silver Standard Resources to a “strong-buy” rating in a report on Monday, August 11th. Finally, UBS Group raised shares of Silver Standard Resources from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.85 to $18.95 in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.55.
Get Our Latest Stock Report on SSRM
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.
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