Silver Standard Resources (NASDAQ:SSRM) Issues Earnings Results

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) posted its quarterly earnings data on Tuesday. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32, Zacks reports. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%.

Silver Standard Resources Stock Down 5.2%

Shares of SSRM stock traded down $1.19 during midday trading on Tuesday, reaching $21.70. 2,678,854 shares of the stock were exchanged, compared to its average volume of 2,918,642. The firm has a market cap of $4.40 billion, a PE ratio of 27.82 and a beta of -0.09. The company’s 50 day moving average is $22.41 and its two-hundred day moving average is $16.03. Silver Standard Resources has a 1 year low of $5.06 and a 1 year high of $25.98. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03.

Analyst Upgrades and Downgrades

Several research analysts have commented on SSRM shares. Zacks Research raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Wall Street Zen upgraded shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 26th. Bank of America upped their price target on shares of Silver Standard Resources from $12.75 to $18.00 and gave the company an “underperform” rating in a research report on Thursday, October 16th. CIBC lifted their price objective on Silver Standard Resources from $25.00 to $28.50 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Scotiabank raised Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Silver Standard Resources currently has an average rating of “Hold” and an average target price of $18.19.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SSRM. Strs Ohio bought a new stake in Silver Standard Resources during the first quarter worth about $50,000. AQR Capital Management LLC boosted its position in shares of Silver Standard Resources by 461.5% in the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after purchasing an additional 70,726 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 worth $4,113,000 after buying an additional 201,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased 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 buying an additional 529,035 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors.

Silver Standard Resources Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.