Silver Standard Resources (NASDAQ:SSRM) Rating Increased to Strong-Buy at BMO Capital Markets

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was upgraded by investment analysts at BMO Capital Markets from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on SSRM. UBS Group lowered shares of Silver Standard Resources from a “buy” rating to a “neutral” rating and raised their price target for the company from $18.95 to $22.95 in a report on Friday, September 19th. Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Silver Standard Resources has an average rating of “Hold” and an average price target of $13.55.

Silver Standard Resources Stock Performance

NASDAQ SSRM opened at $23.50 on Tuesday. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 30.13 and a beta of -0.10. The company has a 50 day moving average of $18.70 and a 200-day moving average of $13.97. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. Silver Standard Resources has a 1-year low of $5.06 and a 1-year high of $25.09.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.28. The company had revenue of $410.54 million during the quarter, compared to analyst estimates of $381.08 million. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. On average, equities analysts forecast that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silver Standard Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of SSRM. Caitong International Asset Management Co. Ltd bought a new position in Silver Standard Resources in the first quarter valued at approximately $32,000. Tacita Capital Inc bought a new position in Silver Standard Resources in the first quarter valued at approximately $48,000. Strs Ohio acquired a new position in shares of Silver Standard Resources in the 1st quarter valued at $50,000. Northwest & Ethical Investments L.P. acquired a new position in shares of Silver Standard Resources in the 1st quarter valued at $72,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Silver Standard Resources in the 1st quarter valued at $109,000. 68.30% of the stock is owned by institutional investors.

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.