Silver Standard Resources Inc. (NASDAQ:SSRI) gapped up prior to trading on Wednesday . The stock had previously closed at $12.28, but opened at $12.46. Silver Standard Resources shares last traded at $12.77, with a volume of 1,101,838 shares traded.

A number of brokerages have recently issued reports on SSRI. BMO Capital Markets reissued a “market perform” rating and issued a $16.50 price target on shares of Silver Standard Resources in a report on Friday, August 12th. Citigroup Inc. raised their target price on shares of Silver Standard Resources from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, August 12th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Silver Standard Resources in a research note on Sunday, August 14th. National Bank Financial downgraded shares of Silver Standard Resources from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 13th. Finally, Macquarie initiated coverage on shares of Silver Standard Resources in a research note on Tuesday. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $14.00.

The firm’s market cap is $1.59 billion. The company’s 50-day moving average price is $13.43 and its 200 day moving average price is $10.60.

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Silver Standard Resources (NASDAQ:SSRI) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 analysts predict that Silver Standard Resources Inc. will post $0.81 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of Silver Standard Resources by 150.0% in the first quarter. Royal Bank of Canada now owns 574,660 shares of the company’s stock worth $3,190,000 after buying an additional 344,752 shares during the period. LPL Financial LLC increased its position in shares of Silver Standard Resources by 60.5% in the first quarter. LPL Financial LLC now owns 22,090 shares of the company’s stock worth $124,000 after buying an additional 8,324 shares during the period. Sun Valley Gold LLC increased its position in shares of Silver Standard Resources by 104.3% in the first quarter. Sun Valley Gold LLC now owns 3,890,287 shares of the company’s stock worth $21,591,000 after buying an additional 1,986,400 shares during the period. Renaissance Technologies LLC increased its position in shares of Silver Standard Resources by 66.4% in the first quarter. Renaissance Technologies LLC now owns 3,517,956 shares of the company’s stock worth $19,525,000 after buying an additional 1,403,656 shares during the period. Finally, Bogle Investment Management L P DE bought a new position in shares of Silver Standard Resources during the first quarter worth about $1,566,000. Institutional investors own 47.53% 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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