Silver Standard Resources Inc. (SSRM) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a hold rating in a research report released on Saturday morning.
According to Zacks, “SSR Mining Inc. is a mining company. It focused on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, other industrial, technology, pharmaceuticals and solar energy markets. SSR Mining Inc, formerly known as Silver Standard Resources Inc, is based in Vancouver, Canada. “
Several other equities analysts have also recently commented on SSRM. ValuEngine cut shares of Silver Standard Resources from a buy rating to a hold rating in a report on Tuesday, June 6th. Royal Bank Of Canada reaffirmed an outperform rating on shares of Silver Standard Resources in a research note on Thursday, September 7th. Finally, Scotiabank upgraded Silver Standard Resources from a sector perform rating to an outperform rating and set a $13.00 price objective for the company in a report on Monday, September 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $12.75.
Shares of Silver Standard Resources (NASDAQ SSRM) opened at 10.59 on Friday. The stock’s 50 day moving average price is $10.34 and its 200-day moving average price is $10.05. Silver Standard Resources has a 12-month low of $7.70 and a 12-month high of $13.23. The firm has a market capitalization of $1.27 billion, a P/E ratio of 12.03 and a beta of -0.19.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Silver Standard Resources had a net margin of 20.37% and a return on equity of 10.69%. The firm had revenue of $116.98 million for the quarter, compared to analyst estimates of $117.05 million. During the same quarter in the prior year, the business earned $0.25 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Silver Standard Resources will post $0.40 EPS for the current year.
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Silver Standard Resources Company Profile
SSR Mining Inc, formerly Silver Standard Resources Inc, is a Canada-based resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties.
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