UBS Group Has Lowered Expectations for Silver Standard Resources (NASDAQ:SSRM) Stock Price

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its target price dropped by equities researchers at UBS Group from $41.00 to $39.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price points to a potential upside of 28.40% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Canadian Imperial Bank of Commerce raised their price objective 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. Weiss Ratings raised Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Royal Bank Of Canada increased their target price on Silver Standard Resources from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. 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. Finally, Bank of America dropped their price target on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $42.60.

Silver Standard Resources Price Performance

SSRM stock traded down $2.73 during midday trading on Wednesday, reaching $30.37. 2,117,958 shares of the company’s stock traded hands, compared to its average volume of 3,392,443. Silver Standard Resources has a fifty-two week low of $18.19 and a fifty-two week high of $39.44. The business has a 50-day moving average price of $35.09 and a two-hundred day moving average price of $31.49. The company has a market capitalization of $6.12 billion, a P/E ratio of 27.64, a PEG ratio of 7.39 and a beta of -0.10.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data 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 firm had revenue of $443.80 million during the quarter, compared to analysts’ expectations of $483.84 million. As a group, research analysts forecast that Silver Standard Resources will post 3.87 earnings per share for the current fiscal 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.