Silver Standard Resources (NASDAQ:SSRM) Stock Falls 4.9% – What’s Next?

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) dropped 4.9% during trading on Tuesday. The stock traded as low as $34.29 and last traded at $33.6940. 272,712 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 3,380,723 shares. The stock had previously closed at $35.44.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen downgraded Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings raised shares of Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. UBS Group reduced their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Bank of America lowered their price objective on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada upped their target price on Silver Standard Resources from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $42.80.

Silver Standard Resources Trading Down 7.8%

The company has a market cap of $6.58 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 7.41 and a beta of -0.10. The stock’s fifty day simple moving average is $34.96 and its 200 day simple moving average is $31.45.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.66 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. On average, analysts predict that Silver Standard Resources Inc. will post 3.87 EPS for the current year.

Silver Standard Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were issued a C$0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 14th. Silver Standard Resources’s payout ratio is presently 10.91%.

About Silver Standard Resources

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.