Notable Price Action: Could Silver Standard Resources Inc. (USA) Change Direction After Today’s Big Increase?

Notable Price Action: Could Silver Standard Resources Inc. (USA) Change Direction After Today's Big Increase?

The stock of Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) is a huge mover today! About 371,492 shares traded hands. Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) has risen 15.96% since April 25, 2016 and is uptrending. It has outperformed by 9.95% the S&P500.
The move comes after 8 months positive chart setup for the $1.16 billion company. It was reported on Nov, 28 by We have $10.33 PT which if reached, will make NASDAQ:SSRI worth $58.00 million more.

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. National Bank Canada initiated the stock with “Outperform” rating in Wednesday, June 29 report. The rating was upgraded by IBC to “Sector Outperformer” on Monday, June 27. The firm has “Neutral” rating by Citigroup given on Monday, September 14. The stock has “Outperform” rating given by BMO Capital Markets on Tuesday, August 23. Citigroup initiated it with “Neutral” rating and $14 target price in Tuesday, August 2 report. The firm has “Neutral” rating given on Friday, August 12 by Citigroup.

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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