Silver Standard Resources Inc. (SSRM) Rating Lowered to Hold at 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 report issued on Wednesday 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. “
Other research analysts have also recently issued reports about the company. Royal Bank Of Canada restated a buy rating and issued a $13.00 price objective on shares of Silver Standard Resources in a research note on Wednesday, August 2nd. 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 research note on Monday, September 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $12.75.
Shares of Silver Standard Resources (SSRM) opened at 9.70 on Wednesday. The firm’s 50 day moving average price is $10.44 and its 200-day moving average price is $10.01. Silver Standard Resources has a 1-year low of $7.70 and a 1-year high of $12.90. The company has a market capitalization of $1.16 billion, a P/E ratio of 11.02 and a beta of -0.19.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Silver Standard Resources had a return on equity of 10.69% and a net margin of 20.37%. The firm had revenue of $116.98 million during the quarter, compared to analysts’ expectations of $117.05 million. During the same period last year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts expect that Silver Standard Resources will post $0.41 EPS for the current year.
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About Silver Standard Resources
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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