Analysts at Macquarie began coverage on shares of Silver Standard Resources Inc. (NASDAQ:SSRI) in a note issued to investors on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the stock.

A number of other research analysts also recently weighed in on SSRI. BMO Capital Markets reissued a “hold” rating and issued a $10.00 target price on shares of Silver Standard Resources in a report on Tuesday, May 31st. Deutsche Bank AG restated a “hold” rating and issued a $11.50 price target (up previously from $8.00) on shares of Silver Standard Resources in a research report on Thursday, June 9th. Zacks Investment Research upgraded Silver Standard Resources from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research report on Wednesday, August 31st. Credit Suisse Group AG restated a “hold” rating on shares of Silver Standard Resources in a research report on Sunday, August 14th. Finally, Scotiabank cut Silver Standard Resources from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, June 15th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.00.

Analyst Recommendations for Silver Standard Resources (NASDAQ:SSRI)

Shares of Silver Standard Resources (NASDAQ:SSRI) traded up 1.71% during midday trading on Tuesday, reaching $12.47. The company had a trading volume of 540,528 shares. The stock’s market capitalization is $1.48 billion. The company’s 50-day moving average is $13.50 and its 200-day moving average is $10.53. Silver Standard Resources has a 1-year low of $3.66 and a 1-year high of $15.84.

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Silver Standard Resources (NASDAQ:SSRI) last posted its earnings results on Wednesday, August 10th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.17. Silver Standard Resources had a positive return on equity of 2.64% and a negative net margin of 28.69%. On average, equities research analysts forecast that Silver Standard Resources will post $0.81 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its stake in Silver Standard Resources by 15.1% in the second quarter. Shell Asset Management Co. now owns 9,166 shares of the company’s stock valued at $154,000 after buying an additional 1,200 shares in the last quarter. LPL Financial LLC boosted its stake in Silver Standard Resources by 60.5% in the first quarter. LPL Financial LLC now owns 22,090 shares of the company’s stock valued at $124,000 after buying an additional 8,324 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in Silver Standard Resources during the second quarter valued at about $142,000. CIBC Asset Management Inc boosted its stake in Silver Standard Resources by 28.6% in the second quarter. CIBC Asset Management Inc now owns 53,120 shares of the company’s stock valued at $685,000 after buying an additional 11,813 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Silver Standard Resources during the second quarter valued at about $156,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Silver Standard Resources Company Profile

Silver Standard Resources Inc is a resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company operates through three segments: Pirquitas mine, Marigold mine, and Exploration and evaluation properties.

5 Day Chart for NASDAQ:SSRI

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