Silver Standard Resources (NASDAQ:SSRM) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a strong-buy rating in a report published on Saturday.

Several other brokerages have also recently weighed in on SSRM. TD Securities raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Zacks Research cut Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. UBS Group lifted their price objective on Silver Standard Resources from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. Canadian Imperial Bank of Commerce increased their target price on Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Silver Standard Resources in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.38.

Silver Standard Resources Stock Performance

Silver Standard Resources stock opened at $30.46 on Friday. The firm has a market capitalization of $6.18 billion, a P/E ratio of 16.46 and a beta of -0.14. The stock has a fifty day moving average price of $24.23 and a two-hundred day moving average price of $22.22. Silver Standard Resources has a 52-week low of $8.65 and a 52-week high of $30.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.08 and a quick ratio of 1.24.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.29. The business had revenue of $521.73 million for the quarter, compared to analyst estimates of $436.23 million. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%. As a group, analysts anticipate that Silver Standard Resources will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Silver Standard Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in 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 valued at $863,000 after acquiring an additional 70,726 shares during the last quarter. Goldman Sachs Group Inc. lifted its position 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 valued at $24,895,000 after purchasing an additional 529,035 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Silver Standard Resources by 96.6% in the 1st 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 during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Silver Standard Resources during the 1st quarter worth approximately $50,000. Institutional investors own 68.30% of the company’s stock.

About Silver Standard Resources

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.