Silver Standard Resources Inc. (NASDAQ:SSRI):
Silver Standard Reports Second Quarter 2017 Production Results.
The company is down since yesterday’s close of $9.35.
Silver Standard Resources Inc., launched on December 11, 1946, is a resource company. The Company is involved in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Business’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties. As of December 31, 2016, the Company has three producing mines and a portfolio of silver resource dominant projects located throughout the Americas. As of December 31, 2016, the Marigold mine produced 205,116 ounces of gold. As of December 31, 2016, the Seabee Gold Operation produced 77,640 ounces of gold. As of December 31, 2016, the Pirquitas mine produced 10.4 million ounces of silver..
Shares of the company are trading at $9.22 which is a tad under $9.79, the 50 day moving average and which is just under the 200 day moving average of $10.14. The 50 day moving average moved down $-0.57 whereas the 200 day average was down by -9.08%.
The company currently has a P/E ratio of 13.72 and market cap is 1.10B. In the latest earnings report the EPS was $0.67 and is estimated to be $0.39 for the current year with 119,514,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $0.07 with next year’s EPS anticipated to be $0.23.
Short traders are feeling a little more bearish on the company recently if you pay attention to the uptick in short interest. The stock recorded a rise in short interest of 0.65% as of May 15, 2017 from the last reporting period. Short interest grew 48,780 over that timeframe. With short interest at 7,557,590 and short average daily volume at 1,941,555, the short-interest ratio is 3.9 and the percentage of shorted shares is 0.06% as of May 15.
Several Wall Street investment firms have released opinions on SSRI recently. On August 23 the company was upgraded from “Market Perform” to “Outperform” and a price target of $19.00 was set in an announcement from BMO Capital. On June 29, 2016 National Bank initiated coverage setting a rating of “Outperform”.
On June 27 the company was changed to a “Sector Outperformer” by CIBC a boost from the previous “” rating. On November 4 the stock rating was downgraded to “Market Perform” from “Outperform” in a statement from BMO Capital.
On September 14 Citigroup kept the company rating at “Neutral” but raised the price target to $6.40 from $5.70. April 14 investment analysts at Citigroup made no change to the stock rating of “Neutral” and lowered the price target from $6.00 to $5.70.