Silver Standard Resources Inc. (NASDAQ:SSRM) Given Consensus Rating of “Hold” by Brokerages

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $18.19.

SSRM has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Silver Standard Resources in a research note on Wednesday, October 8th. BMO Capital Markets upgraded Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th. Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Bank of America lifted their target price on Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a research note on Thursday, October 16th. Finally, CIBC boosted their price target on shares of Silver Standard Resources from $25.00 to $28.50 and gave the stock a “neutral” rating in a report on Friday, October 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Silver Standard Resources in the 1st quarter worth approximately $32,000. Tacita Capital Inc purchased a new stake in Silver Standard Resources in the first quarter worth $48,000. Strs Ohio purchased a new stake in Silver Standard Resources in the first quarter worth $50,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Silver Standard Resources in the first quarter valued at $72,000. Finally, Triasima Portfolio Management inc. purchased a new position in shares of Silver Standard Resources during the 1st quarter valued at $117,000. 68.30% of the stock is owned by institutional investors.

Silver Standard Resources Stock Performance

NASDAQ SSRM opened at $19.94 on Friday. The company has a fifty day moving average price of $22.54 and a 200-day moving average price of $16.27. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 25.56 and a beta of -0.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20. Silver Standard Resources has a 1 year low of $5.21 and a 1 year high of $25.98.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. The company had revenue of $390.16 million for the quarter, compared to analyst estimates of $444.80 million. As a group, equities research analysts predict that Silver Standard Resources will post 0.73 EPS for the current fiscal year.

About Silver Standard Resources

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.