Silver Standard Resources Inc. (NASDAQ:SSRM) Stock Has Average Target Price of $42.60 According to Analysts

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $42.60.

Several research firms have weighed in on SSRM. Bank of America dropped their target price on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Zacks Research cut shares of Silver Standard Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. UBS Group decreased their price target on shares of Silver Standard Resources from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Weiss Ratings downgraded shares of Silver Standard Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Silver Standard Resources from $48.00 to $50.00 and gave the company an “outperformer” rating in a report on Monday, October 5th.

Silver Standard Resources Stock Performance

Shares of NASDAQ SSRM opened at $26.48 on Friday. Silver Standard Resources has a fifty-two week low of $18.19 and a fifty-two week high of $39.44. The company has a market cap of $5.34 billion, a PE ratio of 24.07, a P/E/G ratio of 5.59 and a beta of -0.10. The business has a 50-day simple moving average of $34.38 and a two-hundred day simple moving average of $30.28.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $443.80 million for the quarter, compared to analyst estimates of $483.84 million. Silver Standard Resources had a net margin of 12.30% and a return on equity of 16.17%. On average, sell-side analysts predict that Silver Standard Resources will post 3.82 earnings per share for the current fiscal year.

Silver Standard Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were paid a C$0.03 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. Silver Standard Resources’s dividend payout ratio (DPR) is 10.91%.

About Silver Standard Resources

Silver Standard Resources, now known as SSR Mining Inc (NASDAQ: SSRM), is a precious metals mining company focused primarily on the exploration, development and production of gold and silver. The company’s operations have included open-pit and underground mines, processing facilities and exploration properties in the Americas and Türkiye.

SSR Mining has historically operated the Marigold gold mine in Nevada, the Seabee gold operation in Saskatchewan, Canada, and the Puna silver-lead-zinc complex in Jujuy, Argentina.