UBS Group Issues Positive Forecast for Silver Standard Resources (NASDAQ:SSRM) Stock Price

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its price target increased by research analysts at UBS Group from $29.60 to $31.50 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price would suggest a potential upside of 40.71% from the stock’s current price.

Other equities analysts have also issued reports about the company. Scotiabank raised shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, October 23rd. Wall Street Zen downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Bank of America lifted their price objective on Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a report on Thursday, October 16th. Finally, BMO Capital Markets upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Silver Standard Resources Stock Performance

Shares of NASDAQ SSRM traded up $0.78 during mid-day trading on Wednesday, reaching $22.39. 358,694 shares of the company’s stock were exchanged, compared to its average volume of 2,889,943. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 28.60 and a beta of -0.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20. Silver Standard Resources has a 52 week low of $5.68 and a 52 week high of $25.98. The firm has a 50-day moving average price of $22.50 and a two-hundred day moving average price of $17.19.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. The company had revenue of $390.16 million during the quarter, compared to analyst estimates of $444.80 million. Analysts predict that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SSRM. Caitong International Asset Management Co. Ltd purchased a new position in Silver Standard Resources during the first quarter worth about $32,000. Tacita Capital Inc acquired a new position in Silver Standard Resources during the first quarter worth $48,000. Strs Ohio acquired a new stake in Silver Standard Resources in the first quarter valued at $50,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Silver Standard Resources in the first quarter valued at $72,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Silver Standard Resources during the 1st quarter worth $147,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

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.