Silver Standard Resources Inc. (NASDAQ:SSRI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Silver Standard is focused on the acquisition, exploration and development of silver-dominant projects. They have a quality portfolio of core properties in the development pipeline in Argentina, Mexico, Chile, the United States and Australia. “

SSRI has been the topic of a number of other reports. BMO Capital Markets set a $19.00 price target on shares of Silver Standard Resources and gave the company a “buy” rating in a research report on Saturday, September 17th. Citigroup Inc. reiterated a “neutral” rating on shares of Silver Standard Resources in a research report on Monday. National Bank Financial cut shares of Silver Standard Resources from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 13th. Macquarie assumed coverage on shares of Silver Standard Resources in a research report on Tuesday, September 20th. They set an “outperform” rating on the stock. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Silver Standard Resources in a research report on Sunday, August 14th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.00.

Analyst Recommendations for Silver Standard Resources (NASDAQ:SSRI)

Shares of Silver Standard Resources (NASDAQ:SSRI) opened at 10.53 on Tuesday. The stock has a 50 day moving average of $11.97 and a 200 day moving average of $11.33. The company’s market cap is $1.25 billion. Silver Standard Resources has a 1-year low of $3.66 and a 1-year high of $15.84.

Silver Standard Resources (NASDAQ:SSRI) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.17. Silver Standard Resources had a negative net margin of 28.69% and a positive return on equity of 2.64%. Analysts predict that Silver Standard Resources will post $0.87 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Shell Asset Management Co. raised 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 worth $154,000 after buying an additional 1,200 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Silver Standard Resources during the second quarter worth approximately $142,000. Highbridge Capital Management LLC acquired a new stake in shares of Silver Standard Resources during the second quarter worth approximately $156,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Silver Standard Resources during the second quarter worth approximately $160,000. Finally, Raymond James & Associates acquired a new stake in shares of Silver Standard Resources during the second quarter worth approximately $189,000. 47.54% of the stock is owned by hedge funds and other institutional investors.

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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