Compound Planning Inc. Invests $289,000 in Silver Standard Resources Inc. $SSRM

Compound Planning Inc. purchased a new position in shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) during the first quarter, Holdings Channel.com reports. The fund purchased 28,796 shares of the basic materials company’s stock, valued at approximately $289,000.

A number of other large investors have also modified their holdings of the business. Bleakley Financial Group LLC grew its stake in shares of Silver Standard Resources by 3.9% during the first quarter. Bleakley Financial Group LLC now owns 26,466 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 1,005 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Silver Standard Resources by 3.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company’s stock valued at $289,000 after buying an additional 1,089 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Silver Standard Resources by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company’s stock valued at $1,686,000 after buying an additional 1,200 shares during the last quarter. Cadence Wealth Management LLC boosted its position in Silver Standard Resources by 2.8% in the first quarter. Cadence Wealth Management LLC now owns 50,290 shares of the basic materials company’s stock valued at $504,000 after buying an additional 1,374 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Silver Standard Resources by 0.4% in the fourth quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company’s stock valued at $3,462,000 after buying 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 0.7%

Silver Standard Resources stock opened at $18.44 on Thursday. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. Silver Standard Resources Inc. has a 12 month low of $4.82 and a 12 month high of $18.48. The stock’s 50 day simple moving average is $13.84 and its two-hundred day simple moving average is $11.81. The firm has a market cap of $3.74 billion, a PE ratio of 23.64 and a beta of -0.16.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.23 by $0.28. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%.The business had revenue of $410.54 million for the quarter, compared to analyst estimates of $381.08 million. Analysts anticipate that Silver Standard Resources Inc. will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group upgraded Silver Standard Resources from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.85 to $18.95 in a research report on Friday, August 15th. Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 26th. BMO Capital Markets assumed coverage on Silver Standard Resources in a research report on Friday, July 18th. They issued a “market perform” rating and a $13.50 target price on the stock. Finally, Zacks Research upgraded Silver Standard Resources to a “strong-buy” rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.55.

Silver Standard Resources Company 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.