Silver Standard Resources Inc. (SSRM) Short Interest Up 28.8% in October

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) saw a significant increase in short interest in October. As of October 13th, there was short interest totalling 2,956,221 shares, an increase of 28.8% from the September 29th total of 2,294,347 shares. Based on an average daily volume of 1,109,760 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.5% of the company’s stock are short sold.

Silver Standard Resources (SSRM) opened at 9.70 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of 11.02 and a beta of -0.19. The company has a 50 day moving average price of $10.50 and a 200 day moving average price of $10.03. Silver Standard Resources has a 1-year low of $7.70 and a 1-year high of $12.90.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Wednesday, August 9th. The basic materials company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The firm had revenue of $116.98 million for the quarter, compared to the consensus estimate of $117.05 million. Silver Standard Resources had a net margin of 20.37% and a return on equity of 10.69%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. On average, equities research analysts forecast that Silver Standard Resources will post $0.41 earnings per share for the current year.

A number of brokerages have commented on SSRM. Zacks Investment Research cut Silver Standard Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada restated an “outperform” rating on shares of Silver Standard Resources in a research note on Thursday, September 7th. Finally, Scotiabank upgraded Silver Standard Resources from a “sector perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research note on Monday, September 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $12.75.

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Silver Standard Resources Company Profile

SSR Mining Inc, formerly Silver Standard Resources Inc, is a Canada-based resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties.

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