Breaking: What’s Silver Standard Resources Inc. (USA) Downside After Today’s Significant Decline?

Breaking: What's Silver Standard Resources Inc. (USA) Downside After Today's Significant Decline?

The stock of Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) is a huge mover today! The stock decreased 7.49% or $0.79 on November 23, hitting $9.76. About 2.47M shares traded hands or 25.38% up from the average. Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) has risen 16.89% since April 22, 2016 and is uptrending. It has outperformed by 11.48% the S&P500.
The move comes after 8 months negative chart setup for the $1.21B company. It was reported on Nov, 24 by Barchart.com. We have $9.27 PT which if reached, will make NASDAQ:SSRI worth $60.50M less.

Analysts await Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) to report earnings on February, 23.

Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) Ratings Coverage

Out of 5 analysts covering Silver Standard Resources (NASDAQ:SSRI), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Silver Standard Resources has been the topic of 10 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Citigroup given on Friday, August 12. Citigroup initiated Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) rating on Tuesday, August 2. Citigroup has “Neutral” rating and $14 price target. The stock of Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) earned “Neutral” rating by Citigroup on Monday, September 14. As per Tuesday, August 23, the company rating was upgraded by BMO Capital Markets. The company was initiated on Wednesday, June 29 by National Bank Canada. The stock of Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) has “Sector Outperformer” rating given on Monday, June 27 by IBC.

According to Zacks Investment Research, “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 Company Profile

Silver Standard Resources Inc., incorporated on December 11, 1946, is a resource company. The Firm is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Firm operates through three divisions: Pirquitas mine, Marigold mine, and Exploration and evaluation properties. The Firm has over two producing mines and a portfolio of silver resource dominant projects located throughout the Americas. The Firm is 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 other projects include San Lius project in Peru, Pitarrilla project in Mexico and Berenguela project in Peru.

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