Silver Standard Resources Inc. (NASDAQ:SSRI) (TSE:SSO) has received an average recommendation of “Hold” from the ten ratings firms that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $14.00.

A number of research analysts recently issued reports on SSRI shares. BMO Capital Markets set a $14.00 price objective on shares of Silver Standard Resources and gave the company a “buy” rating in a research note on Saturday, April 1st. Royal Bank Of Canada reissued a “hold” rating and issued a $14.00 price objective on shares of Silver Standard Resources in a research note on Tuesday, February 28th. ValuEngine cut shares of Silver Standard Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Credit Suisse Group reissued a “neutral” rating on shares of Silver Standard Resources in a research note on Tuesday, April 18th. Finally, Scotiabank reissued a “sector perform” rating and issued a $15.00 price objective on shares of Silver Standard Resources in a research note on Thursday, April 13th.

Silver Standard Resources (NASDAQ:SSRI) opened at 9.30 on Tuesday. The stock has a 50 day moving average price of $9.73 and a 200 day moving average price of $10.16. Silver Standard Resources has a one year low of $7.70 and a one year high of $15.84. The firm has a market capitalization of $1.11 billion, a P/E ratio of 13.84 and a beta of -0.10.

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in shares of Silver Standard Resources by 2.5% in the first quarter. Van ECK Associates Corp now owns 22,249,523 shares of the basic materials company’s stock worth $236,067,000 after buying an additional 536,968 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Silver Standard Resources by 5.4% in the fourth quarter. Renaissance Technologies LLC now owns 5,340,483 shares of the basic materials company’s stock worth $47,638,000 after buying an additional 275,500 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Silver Standard Resources by 5.5% in the first quarter. Vanguard Group Inc. now owns 2,239,903 shares of the basic materials company’s stock worth $23,766,000 after buying an additional 117,475 shares in the last quarter. Investec Asset Management LTD raised its stake in shares of Silver Standard Resources by 27.6% in the first quarter. Investec Asset Management LTD now owns 2,065,564 shares of the basic materials company’s stock worth $21,916,000 after buying an additional 446,804 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of Silver Standard Resources by 22.2% in the first quarter. Global X Management Co. LLC now owns 1,743,835 shares of the basic materials company’s stock worth $18,496,000 after buying an additional 316,761 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

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About Silver Standard Resources

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’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties.

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