Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $38.20.

A number of research firms recently commented on SSRM. Royal Bank Of Canada upgraded Silver Standard Resources from a “sector perform” rating to an “outperform” rating and dropped their price objective for the company from $45.00 to $40.00 in a report on Wednesday, June 3rd. BMO Capital Markets upgraded Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a report on Thursday, March 5th. Bank of America upgraded Silver Standard Resources from an “underperform” rating to a “buy” rating in a research report on Wednesday, March 4th. Zacks Research cut Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. Finally, UBS Group increased their target price on Silver Standard Resources from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th.

Silver Standard Resources Stock Performance

NASDAQ SSRM opened at $30.95 on Monday. The stock has a 50-day simple moving average of $30.52 and a 200 day simple moving average of $27.45. The company has a market capitalization of $6.42 billion, a PE ratio of 29.48, a P/E/G ratio of 0.38 and a beta of -0.14. The company has a current ratio of 5.33, a quick ratio of 4.57 and a debt-to-equity ratio of 0.01. Silver Standard Resources has a 12 month low of $11.70 and a 12 month high of $36.51.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.34. The business had revenue of $581.78 million during the quarter, compared to the consensus estimate of $524.80 million. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%. Research analysts forecast that Silver Standard Resources will post 4.49 EPS for the current year.

Institutional Trading of Silver Standard Resources

A number of large investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in Silver Standard Resources during the 1st quarter worth approximately $50,000. AQR Capital Management LLC raised its stake in Silver Standard Resources by 461.5% during the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after buying an additional 70,726 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Silver Standard Resources by 96.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 410,046 shares of the basic materials company’s stock worth $4,113,000 after buying an additional 201,525 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Silver Standard Resources by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after buying an additional 529,035 shares during the period. 68.30% of the stock is owned by institutional investors.

Silver Standard Resources Company Profile

Silver Standard Resources Inc (NASDAQ: SSRM) is a Vancouver‐based precious metals company engaged in the acquisition, exploration, development and production of silver and gold deposits primarily across the Americas. The company’s strategy centers on advancing high‐quality projects into production while maintaining a portfolio of operating mines that deliver consistent metal output. Silver Standard emphasizes sustainable resource development and community partnership at each stage of its operations.

The company’s principal producing assets include the Marigold gold mine in Nevada, which entered commercial production in 2006; the Seabee gold operation in Saskatchewan, Canada, acquired in 2016; and the Pirquitas silver‐gold mine in Argentina, which began producing in 2009.