Silver Standard Resources (NASDAQ:SSRM) Stock Rating Upgraded by Wall Street Zen

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other analysts have also recently issued reports on SSRM. Canadian Imperial Bank of Commerce upped their price objective on Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. TD Securities upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Silver Standard Resources in a research report on Thursday, January 22nd. Zacks Research cut shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, UBS Group boosted their target price on shares of Silver Standard Resources from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.38.

Silver Standard Resources Trading Up 4.6%

Shares of Silver Standard Resources stock opened at $30.46 on Friday. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 16.46 and a beta of -0.14. The business has a 50-day moving average price of $24.23 and a 200-day moving average price of $22.27. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.03. Silver Standard Resources has a twelve month low of $8.65 and a twelve month high of $30.58.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, February 17th. The basic materials company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.29. Silver Standard Resources had a return on equity of 10.40% and a net margin of 24.28%.The company had revenue of $521.73 million for the quarter, compared to the consensus estimate of $436.23 million. Equities research analysts anticipate that Silver Standard Resources will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Silver Standard Resources

A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in Silver Standard Resources by 27.1% in 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Silver Standard Resources by 96.6% during the first 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 period. AQR Capital Management LLC increased its position in shares of Silver Standard Resources by 461.5% during the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock valued at $863,000 after acquiring an additional 70,726 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Silver Standard Resources in the 1st quarter valued at approximately $50,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

About Silver Standard Resources

Silver Standard Resources Inc (NASDAQ: SSRM) is a Vancouver‐based precious metals company engaged in the acquisition, exploration, development and production of silver and gold deposits primarily across the Americas. The company’s strategy centers on advancing high‐quality projects into production while maintaining a portfolio of operating mines that deliver consistent metal output. Silver Standard emphasizes sustainable resource development and community partnership at each stage of its operations.

The company’s principal producing assets include the Marigold gold mine in Nevada, which entered commercial production in 2006; the Seabee gold operation in Saskatchewan, Canada, acquired in 2016; and the Pirquitas silver‐gold mine in Argentina, which began producing in 2009.