Silver Standard Resources Inc. (NASDAQ:SSRM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $41.60.

Several research firms recently commented on SSRM. Royal Bank Of Canada dropped their price target on Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Bank of America decreased their price objective on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Wall Street Zen lowered Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded Silver Standard Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, UBS Group cut their target price on Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th.

Silver Standard Resources Stock Up 1.8%

SSRM stock opened at $32.78 on Tuesday. Silver Standard Resources has a 52 week low of $15.99 and a 52 week high of $36.51. The company has a fifty day simple moving average of $28.63 and a two-hundred day simple moving average of $29.12. The firm has a market capitalization of $6.77 billion, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 6.63 and a beta of -0.09.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Silver Standard Resources had a return on equity of 16.17% and a net margin of 12.30%.The business had revenue of $443.80 million during the quarter, compared to analysts’ expectations of $483.84 million. As a group, analysts anticipate that Silver Standard Resources will post 3.92 EPS for the current year.

Silver Standard Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, August 14th. Silver Standard Resources’s payout ratio is presently 10.91%.

Institutional Investors Weigh In On Silver Standard Resources

Several hedge funds and other institutional investors have recently made changes to their positions in SSRM. Strs Ohio bought a new position in Silver Standard Resources during the 1st quarter valued at about $50,000. AQR Capital Management LLC lifted its stake in Silver Standard Resources by 461.5% in the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after purchasing an additional 70,726 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Silver Standard Resources by 96.6% in the first 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 purchasing an additional 201,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Silver Standard Resources by 27.1% in 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 during the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.