Royal Bank Of Canada Issues Pessimistic Forecast for Silver Standard Resources (NASDAQ:SSRM) Stock Price

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its price target reduced by Royal Bank Of Canada from $40.00 to $39.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 33.37% from the stock’s previous close.

Several other research analysts have also weighed in on SSRM. UBS Group lowered their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Bank of America decreased their price objective on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday. Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of Silver Standard Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. Finally, Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.60.

Silver Standard Resources Trading Up 3.7%

Shares of Silver Standard Resources stock traded up $1.04 during trading hours on Thursday, hitting $29.24. The company’s stock had a trading volume of 1,035,889 shares, compared to its average volume of 3,760,143. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 0.37 and a beta of -0.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.57 and a current ratio of 5.33. Silver Standard Resources has a twelve month low of $11.70 and a twelve month high of $36.51. The firm has a fifty day moving average of $29.98 and a 200-day moving average of $28.15.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.34. The firm had revenue of $418.46 million during the quarter, compared to the consensus estimate of $524.79 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 4.53 EPS for the current year.

Institutional Trading of Silver Standard Resources

A number of institutional investors and hedge funds have recently bought and sold shares of SSRM. Goldman Sachs Group Inc. lifted its position in shares of Silver Standard Resources by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after purchasing an additional 529,035 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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. AQR Capital Management LLC lifted its holdings 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 in the last quarter. Finally, Strs Ohio acquired a new stake in Silver Standard Resources during the 1st quarter worth approximately $50,000. 68.30% of the stock is currently owned by hedge funds and other 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.