Sun Valley Gold Lowers stake in Silver Standard Resources (USA) (SSRI)

Silver Standard Resources (USA) (SSRI) : Sun Valley Gold reduced its stake in Silver Standard Resources (USA) by 17.12% during the most recent quarter end. The investment management company now holds a total of 3,224,254 shares of Silver Standard Resources (USA) which is valued at $49,460,056 after selling 666,033 shares in Silver Standard Resources (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Silver Standard Resources (USA) makes up approximately 11.63% of Sun Valley Gold’s portfolio.

Other Hedge Funds, Including , Cubist Systematic Strategies added SSRI to its portfolio by purchasing 28,353 company shares during the most recent quarter which is valued at $434,935. Silver Standard Resources (USA) makes up approx 0.02% of Cubist Systematic Strategies’s portfolio. Omers Administration Corp added SSRI to its portfolio by purchasing 29,600 company shares during the most recent quarter which is valued at $454,064. Silver Standard Resources (USA) makes up approx 0.01% of Omers Administration Corp’s portfolio. Fmr sold out all of its stake in SSRI during the most recent quarter. The investment firm sold 19,900 shares of SSRI which is valued $305,266.Tower Research Capital (trc) reduced its stake in SSRI by selling 8,245 shares or 72.04% in the most recent quarter. The Hedge Fund company now holds 3,200 shares of SSRI which is valued at $49,088. Princeton Alpha Management Lp sold out all of its stake in SSRI during the most recent quarter. The investment firm sold 11,324 shares of SSRI which is valued $151,062.

Silver Standard Resources (USA) opened for trading at $11.66 and hit $12.265 on the upside on Thursday, eventually ending the session at $12.23, with a gain of 4.35% or 0.51 points. The heightened volatility saw the trading volume jump to 27,44,991 shares. Company has a market cap of $1,456 M.

On the company’s financial health, Silver Standard Resources (USA) reported $-0.13 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Nov 5, 2015. Analyst had a consensus of $-0.10. The company had revenue of $77.20 million for the quarter, compared to analysts expectations of $107.25 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Silver Standard Resources (USA). Citigroup Initiated Silver Standard Resources (USA) on Aug 2, 2016 to “Neutral”, Price Target of the shares are set at $14.Silver Standard Resources (USA) was Downgraded by National Bank Financial to ” Sector Perform” on Jul 13, 2016. Silver Standard Resources (USA) was Upgraded by CIBC to ” Sector Outperform” on Jun 27, 2016.

Silver Standard Resources Inc. is a resource company. The Company is focused on 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. As of February 18 2015 the Company had two producing mines and a portfolio of silver resource dominant projects located throughout the Americas. The Company is primarily focused on silver production from the Pirquitas mine in Argentina and gold production from the Marigold mine in Nevada the United States. The Company’s development projects include San Lius Peru; Pitarrilla Mexico and Diablillos Argentina. Its exploration projects consist of Berenguela Peru; Candelaria the United States; Maverick Springs the United States; San Marcial Mexico; Sunrise Lake Canada and Parral Mining District Mexico.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *