Corebridge Financial Inc. Lowers Stock Holdings in Silver Standard Resources Inc. $SSRM

Corebridge Financial Inc. lowered its holdings in Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,421 shares of the basic materials company’s stock after selling 1,475 shares during the period. Corebridge Financial Inc.’s holdings in Silver Standard Resources were worth $997,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its position in Silver Standard Resources by 23.5% during the fourth quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company’s stock valued at $2,530,000 after acquiring an additional 69,124 shares during the period. RFG Advisory LLC purchased a new stake in Silver Standard Resources during the first quarter valued at about $206,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Silver Standard Resources by 25.4% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 113,709 shares of the basic materials company’s stock valued at $1,140,000 after acquiring an additional 23,034 shares during the period. Charles Schwab Investment Management Inc. grew its position in Silver Standard Resources by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,409,521 shares of the basic materials company’s stock valued at $14,128,000 after acquiring an additional 30,862 shares during the period. Finally, Compound Planning Inc. purchased a new stake in Silver Standard Resources during the first quarter valued at about $289,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Trading Up 3.4%

Shares of SSRM opened at $21.10 on Friday. The stock’s 50-day moving average is $14.84 and its two-hundred day moving average is $12.32. The stock has a market cap of $4.28 billion, a PE ratio of 27.05 and a beta of -0.08. Silver Standard Resources Inc. has a 12 month low of $4.86 and a 12 month high of $21.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SSRM. UBS Group raised Silver Standard Resources from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.85 to $18.95 in a research report on Friday, August 15th. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 26th. BMO Capital Markets started coverage on Silver Standard Resources in a research report on Friday, July 18th. They set a “market perform” rating and a $13.50 price target for the company. Finally, Zacks Research upgraded Silver Standard Resources to a “strong-buy” rating in a research note on Monday, August 11th. One investment 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 company. According to data from MarketBeat.com, Silver Standard Resources has a consensus rating of “Hold” and a consensus target price of $12.55.

About Silver Standard Resources

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.