Silver Standard Resources Inc. (NASDAQ:SSRM) Given Consensus Recommendation of “Buy” by Analysts

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned a consensus rating of “Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $36.00.

SSRM has been the topic of several research reports. National Bank Financial upgraded Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, March 4th. Canadian Imperial Bank of Commerce raised Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price objective on the stock in a report on Thursday. Zacks Research cut Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Bank of America upgraded Silver Standard Resources from an “underperform” rating to a “buy” rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st.

Silver Standard Resources Price Performance

Shares of Silver Standard Resources stock opened at $28.18 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.08 and a quick ratio of 1.25. The company has a market cap of $5.72 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 0.48 and a beta of -0.18. The firm has a fifty day moving average price of $26.72 and a two-hundred day moving average price of $23.69. Silver Standard Resources has a fifty-two week low of $8.65 and a fifty-two week high of $33.49.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 17th. The basic materials company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.29. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%. The business had revenue of $521.73 million during the quarter, compared to analyst estimates of $436.23 million. Analysts expect that Silver Standard Resources will post 0.73 EPS for the current year.

Hedge Funds Weigh In On Silver Standard Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in SSRM. Strs Ohio acquired a new stake in shares of Silver Standard Resources during the 1st quarter valued at about $50,000. AQR Capital Management LLC increased its stake in Silver Standard Resources by 461.5% in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Silver Standard Resources by 96.6% in 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 purchasing an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Silver Standard Resources by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after purchasing an additional 529,035 shares in the last quarter. 68.30% of the stock is owned by 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.