Silver Standard Resources (NASDAQ:SSRM) Stock Price Target Raised at Canadian Imperial Bank of Commerce

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its price target hoisted by Canadian Imperial Bank of Commerce from $48.00 to $50.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “outperformer” rating on the basic materials company’s stock. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 46.86% from the company’s previous close.

A number of other analysts have also recently commented on the company. Weiss Ratings upgraded Silver Standard Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. UBS Group dropped their price target on Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada lifted their price target on Silver Standard Resources from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Bank of America reduced their price objective on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Wall Street Zen downgraded Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Silver Standard Resources Price Performance

Shares of Silver Standard Resources stock traded up $0.78 during trading on Monday, hitting $34.05. 1,401,761 shares of the stock were exchanged, compared to its average volume of 3,431,156. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 6.94 and a beta of -0.10. The firm’s 50-day moving average price is $33.97 and its 200 day moving average price is $31.05. Silver Standard Resources has a 12-month low of $18.19 and a 12-month high of $39.44.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced 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 business had revenue of $443.80 million during the quarter, compared to analyst estimates of $483.84 million. As a group, research analysts forecast that Silver Standard Resources will post 3.87 earnings per share for the current year.

Silver Standard Resources Company Profile

Silver Standard Resources Inc was a precious-metals mining company focused on the acquisition, development and operation of silver and gold properties. The company produced silver and gold concentrates and worked to advance exploration and development projects in the Americas and other mining jurisdictions.

In 2017, Silver Standard Resources merged with Claude Resources Inc and changed its name to SSR Mining Inc The combined company expanded its portfolio to include the Seabee gold operation in Saskatchewan, Canada, and the Marigold gold mine in Nevada, while continuing to develop and operate precious-metals assets in Latin America.