Silver Standard Resources (NASDAQ:SSRM) Stock Moved Down to Strong Sell by Zacks Research

Zacks Research lowered shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a strong sell rating in a research note published on Monday,Zacks reports.

SSRM has been the topic of a number of other research reports. Bank of America dropped 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, July 9th. Weiss Ratings upgraded shares of Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Canadian Imperial Bank of Commerce upped their target price on shares of Silver Standard Resources from $48.00 to $50.00 and gave the company an “outperformer” rating in a report on Monday, October 5th. Royal Bank Of Canada increased their price target on shares of Silver Standard Resources from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Finally, UBS Group decreased their price target on shares of Silver Standard Resources from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.60.

Silver Standard Resources Stock Performance

SSRM stock opened at $31.27 on Monday. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 7.81 and a beta of -0.10. The business’s 50-day moving average is $35.17 and its two-hundred day moving average is $31.63. Silver Standard Resources has a fifty-two week low of $18.19 and a fifty-two week high of $39.44.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share (EPS) 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 firm had revenue of $443.80 million for the quarter, compared to the consensus estimate of $483.84 million. Equities analysts predict that Silver Standard Resources will post 3.25 earnings per share for the current year.

Silver Standard Resources Announces Dividend

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

About Silver Standard Resources

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.