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

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

A number of research analysts recently weighed in on SSRM shares. Wall Street Zen downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Bank of America decreased their target price on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. UBS Group lowered their price target on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Royal Bank Of Canada dropped their target price on Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Zacks Research cut Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th.

Hedge Funds Weigh In On Silver Standard Resources

Institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new position in Silver Standard Resources during the first quarter worth about $50,000. AQR Capital Management LLC grew its stake in shares of 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 increased its stake in shares of 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 valued at $4,113,000 after buying an additional 201,525 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Silver Standard Resources by 27.1% during the 1st 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. Institutional investors and hedge funds own 68.30% of the company’s stock.

Silver Standard Resources Stock Performance

Shares of SSRM opened at $27.20 on Friday. The firm has a market cap of $5.61 billion, a P/E ratio of 25.91, a PEG ratio of 5.78 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 $11.86 and a twelve month high of $36.51. The firm’s 50 day moving average price is $28.90 and its two-hundred day moving average price is $28.51.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.34. The firm had revenue of $418.46 million for 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%. On average, analysts forecast that Silver Standard Resources will post 3.92 EPS for the current fiscal year.

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.