Silver Standard Resources (NASDAQ:SSRM) Rating Increased to Buy at TD Cowen

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was upgraded by equities researchers at TD Cowen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

SSRM has been the topic of a number of other reports. UBS Group increased their price objective on shares of Silver Standard Resources from $31.50 to $34.50 and gave the company a “buy” rating in a research report on Wednesday, January 14th. CIBC boosted their target price on shares of Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Zacks Research lowered Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Scotiabank upgraded Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. Finally, BMO Capital Markets raised Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Silver Standard Resources currently has an average rating of “Hold” and an average target price of $20.60.

Silver Standard Resources Price Performance

SSRM stock opened at $23.13 on Thursday. The business’s 50-day moving average is $22.17 and its two-hundred day moving average is $20.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.41 and a quick ratio of 1.24. The firm has a market capitalization of $4.70 billion, a P/E ratio of 22.24 and a beta of -0.11. Silver Standard Resources has a 1 year low of $7.55 and a 1 year high of $25.98.

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

Institutional Investors Weigh In On Silver Standard Resources

Several large investors have recently modified their holdings of SSRM. Goldman Sachs Group Inc. grew its position in shares of 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 worth $24,895,000 after acquiring 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% in the 1st 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 purchasing an additional 201,525 shares during the last quarter. AQR Capital Management LLC boosted its stake in Silver Standard Resources by 461.5% during the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after purchasing an additional 70,726 shares during the period. Finally, Strs Ohio acquired a new stake in Silver Standard Resources during the 1st quarter worth $50,000. 68.30% of the stock is owned by institutional investors and hedge funds.

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.