Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $20.60.

Several research firms have commented on SSRM. CIBC boosted their target price on Silver Standard Resources from $28.50 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Silver Standard Resources in a report on Thursday, January 22nd. Scotiabank raised shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, October 23rd. Wall Street Zen cut shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, TD Cowen upgraded Silver Standard Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 22nd.

Silver Standard Resources Price Performance

Shares of NASDAQ SSRM opened at $26.82 on Friday. The company has a fifty day moving average price of $22.88 and a 200 day moving average price of $20.65. The firm has a market cap of $5.44 billion, a PE ratio of 25.79 and a beta of -0.11. The company has a current ratio of 2.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03. Silver Standard Resources has a 1-year low of $7.91 and a 1-year high of $28.81.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, November 4th. The basic materials company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $390.16 million for the quarter, compared to analyst estimates of $444.80 million. Silver Standard Resources had a return on equity of 6.46% and a net margin of 15.36%. Research analysts predict that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silver Standard Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 acquiring an additional 201,525 shares in the last quarter. AQR Capital Management LLC lifted 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 last quarter. Finally, Strs Ohio bought a new position in shares of Silver Standard Resources in the 1st quarter valued at about $50,000. Institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Company Profile

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.