Large Inflow of Money Detected in Silver Standard Resources

Silver Standard Resources (SSRI): $3.34 million was the positive money flow into the stock on Tuesday and the up/down ratio of ticks was also in favor of the bulls at 1.63. The value of trades done on upticks was $8.66 million, whereas, trades done on downticks were valued at $5.33 million. Money flows are calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades. large traders, also sometimes called as the smart money, block traded $4.16 million worth stocks on upticks, which is a bullish indication. The downticks accounted only for $0.43 million worth of block trades showing a lack of interest among the large traders to sell the stock down. The up/down ratio of 9.66 was strongly in favor of the bulls. The money flow in block trades was $3.73 million. Silver Standard Resources (SSRI) fell $0.88 traded at $12.02, a change of -6.82% over the previous day. The stock is -6.6% for the week.


Also, Equity Analysts at the BMO Capital upgrades the rating on Silver Standard Resources (NASDAQ:SSRI). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Market Perform. The Analysts at the ratings agency raises the price target from $16.5 per share to $19 per share. The rating by the firm was issued on August 23, 2016.

Silver Standard Resources Inc. has lost 17.76% in the last five trading days and dropped 14.73% in the last 4 weeks. Silver Standard Resources Inc. is up 33.33% in the last 3-month period. Year-to-Date the stock performance stands at 132.43%.

Silver Standard Resources (NASDAQ:SSRI): The stock opened at $12.52 on Tuesday but the bulls could not build on the opening and the stock topped out at $12.88 for the day. The stock traded down to $11.91 during the day, due to lack of any buying support eventually closed down at $12.04 with a loss of -6.67% for the day. The stock had closed at $12.90 on the previous day. The total traded volume was 3,715,167 shares.

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 Companys 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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.