Silver Standard Resources (NASDAQ:SSRM) Upgraded by Scotiabank to “Sector Outperform” Rating

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was upgraded by research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently commented on SSRM. Bank of America raised their price objective on shares of Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a research note on Thursday, October 16th. BMO Capital Markets raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th. Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 26th. UBS Group downgraded shares of Silver Standard Resources from a “buy” rating to a “neutral” rating and increased their price target for the stock from $18.95 to $22.95 in a report on Friday, September 19th. Finally, Zacks Research upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Silver Standard Resources presently has a consensus rating of “Hold” and a consensus target price of $18.19.

Silver Standard Resources Price Performance

NASDAQ:SSRM opened at $22.45 on Thursday. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 28.78 and a beta of -0.09. The firm’s fifty day moving average is $21.46 and its two-hundred day moving average is $15.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. Silver Standard Resources has a one year low of $5.06 and a one year high of $25.98.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.28. The business had revenue of $410.54 million during the quarter, compared to analysts’ expectations of $381.08 million. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%. Research analysts expect that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bleakley Financial Group LLC grew its position in Silver Standard Resources by 3.9% in the first quarter. Bleakley Financial Group LLC now owns 26,466 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 1,005 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Silver Standard Resources by 3.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company’s stock valued at $289,000 after purchasing an additional 1,089 shares during the last quarter. Cadence Wealth Management LLC raised its holdings in Silver Standard Resources by 2.8% in the 1st quarter. Cadence Wealth Management LLC now owns 50,290 shares of the basic materials company’s stock valued at $504,000 after buying an additional 1,374 shares during the period. Hsbc Holdings PLC raised its holdings in Silver Standard Resources by 1.1% in the 1st quarter. Hsbc Holdings PLC now owns 206,667 shares of the basic materials company’s stock valued at $2,098,000 after buying an additional 2,174 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Silver Standard Resources by 19.4% in the 1st quarter. Principal Financial Group Inc. now owns 13,453 shares of the basic materials company’s stock valued at $135,000 after buying an additional 2,190 shares during the period. 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.