Silver Standard Resources Inc. (NASDAQ:SSRM) Given Average Recommendation of “Hold” by Analysts

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has earned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.19.

A number of brokerages have recently weighed in on SSRM. CIBC lifted their target price on shares of Silver Standard Resources from $25.00 to $28.50 and gave the company a “neutral” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Silver Standard Resources in a research report on Wednesday, October 8th. BMO Capital Markets raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 30th. Bank of America lifted their price target on shares of Silver Standard Resources from $12.75 to $18.00 and gave the company an “underperform” rating in a research report on Thursday, October 16th. Finally, Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 26th.

Silver Standard Resources Trading Down 9.3%

Shares of SSRM opened at $22.13 on Wednesday. The firm’s 50-day moving average price is $21.33 and its 200-day moving average price is $15.17. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 28.37 and a beta of -0.09. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. Silver Standard Resources has a 1-year low of $5.06 and a 1-year high of $25.98.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.28. The firm had revenue of $410.54 million for the quarter, compared to analyst estimates of $381.08 million. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. Sell-side analysts anticipate that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SSRM. Wealth Enhancement Advisory Services LLC raised its holdings in Silver Standard Resources by 3.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company’s stock worth $289,000 after buying an additional 1,089 shares during the last quarter. Intact Investment Management Inc. raised its holdings in Silver Standard Resources by 65.3% in the first quarter. Intact Investment Management Inc. now owns 47,100 shares of the basic materials company’s stock worth $472,000 after buying an additional 18,600 shares during the last quarter. Highland Capital Management LLC purchased a new position in Silver Standard Resources in the first quarter worth about $177,000. Principal Financial Group Inc. raised its holdings in Silver Standard Resources by 19.4% in the first quarter. Principal Financial Group Inc. now owns 13,453 shares of the basic materials company’s stock worth $135,000 after buying an additional 2,190 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new position in Silver Standard Resources in the first quarter worth about $292,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

About Silver Standard Resources

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.