Shares of Silver Standard Resources Inc. (NASDAQ:SSRI) (TSE:SSO) have been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.00.

SSRI has been the subject of a number of research reports. BMO Capital Markets set a $14.00 price objective on shares of Silver Standard Resources and gave the stock a “buy” rating in a research note on Saturday, April 1st. Royal Bank Of Canada set a $13.00 price objective on shares of Silver Standard Resources and gave the stock a “hold” rating in a research note on Monday, June 12th. ValuEngine lowered shares of Silver Standard Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Silver Standard Resources in a research note on Tuesday, April 18th. Finally, Scotiabank reaffirmed 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.

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Silver Standard Resources (NASDAQ:SSRI) opened at 9.41 on Monday. The company has a 50 day moving average of $9.79 and a 200 day moving average of $10.14. Silver Standard Resources has a 52 week low of $7.70 and a 52 week high of $15.84. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.00 and a beta of -0.11.

Several hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in 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 valued at $236,067,000 after buying an additional 536,968 shares during the last quarter. Vanguard Group Inc. raised its stake in 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 valued at $23,766,000 after buying an additional 117,475 shares during the last quarter. Investec Asset Management LTD raised its stake in 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 valued at $21,916,000 after buying an additional 446,804 shares during the last quarter. Bank of Montreal Can raised its stake in Silver Standard Resources by 205.9% in the second quarter. Bank of Montreal Can now owns 1,748,339 shares of the basic materials company’s stock valued at $16,976,000 after buying an additional 1,176,749 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in 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 valued at $18,496,000 after buying an additional 316,761 shares during the last quarter. 47.18% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Silver Standard Resources (NASDAQ:SSRI)

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