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

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $38.20.

Several equities research analysts have commented on the company. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. BMO Capital Markets raised Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Thursday, March 5th. Canadian Imperial Bank of Commerce raised Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 target price on the stock in a report on Thursday, March 12th. Finally, UBS Group boosted their target price on Silver Standard Resources from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th.

Silver Standard Resources Trading Down 3.1%

NASDAQ SSRM opened at $28.89 on Thursday. The company has a quick ratio of 4.57, a current ratio of 5.33 and a debt-to-equity ratio of 0.01. Silver Standard Resources has a twelve month low of $11.67 and a twelve month high of $36.51. The firm has a market capitalization of $5.99 billion, a PE ratio of 27.51, a P/E/G ratio of 0.38 and a beta of -0.14. The stock’s 50 day moving average is $30.73 and its 200 day moving average is $26.87.

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 for the quarter, beating the consensus estimate of $0.81 by $0.34. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%.The company had revenue of $581.78 million for the quarter, compared to analyst estimates of $524.80 million. Research analysts forecast that Silver Standard Resources will post 4.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silver Standard Resources

Several hedge funds have recently added to or reduced their stakes in SSRM. Strs Ohio bought a new position in shares of Silver Standard Resources during the first quarter valued at $50,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Silver Standard Resources by 96.6% during 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 purchasing an additional 201,525 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Silver Standard Resources by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock valued at $24,895,000 after purchasing an additional 529,035 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Silver Standard Resources by 461.5% during the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock valued at $863,000 after purchasing an additional 70,726 shares in the last quarter. 68.30% of the stock is owned by institutional investors.

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.