UPDATE: Global Hunter Securities Upgrades Silver Standard Resources to Buy on Feasibility Study
Global Hunter Securities raised its rating on Silver Standard Resources (NASDAQ: SSRI) from Accumulate to Buy and increased its price target from $21 to $22.
Global Hunter Securities commented, "Silver Standard Resources (SSRI) provided the results of its feasibility study on the Pitarrilla project in Mexico. The feasibility study had an after-tax NPV of $737 million and a 12.8% IRR with $741 million in initial capital required for construction. As a result of the feasibility study we are increasing our price target from $21 to $22 and increasing our rating from Accumulate to Buy."
Silver Standard Resources closed at $13.44 on Wednesday.
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