Silver Standard Resources (NASDAQ:SSRM) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

A number of other brokerages have also commented on SSRM. BMO Capital Markets upgraded shares of Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 price target for the company in a research note on Thursday, March 5th. National Bank Financial upgraded shares of Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, March 4th. TD Cowen upgraded shares of Silver Standard Resources from a “hold” rating to a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings lowered shares of Silver Standard Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, Zacks Research upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Silver Standard Resources presently has a consensus rating of “Buy” and a consensus price target of $37.75.

Silver Standard Resources Stock Performance

Shares of SSRM opened at $34.20 on Friday. The business’s fifty day simple moving average is $29.88 and its two-hundred day simple moving average is $25.60. The company has a current ratio of 5.33, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Silver Standard Resources has a 12 month low of $10.19 and a 12 month high of $36.51. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 0.48 and a beta of -0.17.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.81 by $0.34. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%.The business had revenue of $581.78 million for the quarter, compared to the consensus estimate of $524.80 million. Research analysts anticipate that Silver Standard Resources will post 3.93 earnings per share for the current fiscal year.

Institutional Trading of Silver Standard Resources

Large investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in Silver Standard Resources during the first quarter valued at approximately $50,000. AQR Capital Management LLC grew its position in 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 buying an additional 70,726 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 valued at $4,113,000 after buying an additional 201,525 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Silver Standard Resources by 27.1% during the first 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. 68.30% of the stock is currently owned by institutional investors.

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.