Silver Standard Resources (NASDAQ:SSRM) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

A number of other research firms have also recently commented on SSRM. Weiss Ratings raised shares of Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Royal Bank Of Canada increased their price objective on Silver Standard Resources from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. UBS Group reduced their price objective on Silver Standard Resources from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Bank of America decreased their target price on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce boosted their target price on Silver Standard Resources from $48.00 to $50.00 and gave the company an “outperformer” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.60.

Silver Standard Resources Stock Performance

Shares of SSRM stock opened at $31.49 on Friday. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 7.90 and a beta of -0.10. Silver Standard Resources has a 52 week low of $18.19 and a 52 week high of $39.44. The firm’s 50-day simple moving average is $35.18 and its two-hundred day simple moving average is $31.63.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Silver Standard Resources had a net margin of 12.30% and a return on equity of 16.17%. The company had revenue of $443.80 million during the quarter, compared to analysts’ expectations of $483.84 million. Analysts forecast that Silver Standard Resources will post 3.25 earnings per share for the current year.

Silver Standard Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were given a dividend of C$0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, August 14th. Silver Standard Resources’s dividend payout ratio (DPR) is currently 10.91%.

Silver Standard Resources Company Profile

Silver Standard Resources, now known as SSR Mining Inc (NASDAQ: SSRM), is a precious metals mining company focused primarily on the exploration, development and production of gold and silver. The company’s operations have included open-pit and underground mines, processing facilities and exploration properties in the Americas and Türkiye.

SSR Mining has historically operated the Marigold gold mine in Nevada, the Seabee gold operation in Saskatchewan, Canada, and the Puna silver-lead-zinc complex in Jujuy, Argentina.