Silver Standard Resources (NASDAQ:SSRM) Raised to Strong-Buy at Zacks Research

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. TD Securities raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Bank of America raised shares of Silver Standard Resources from an “underperform” rating to a “buy” rating in a research report on Wednesday, March 4th. TD Cowen raised shares of Silver Standard Resources from a “hold” rating to a “buy” rating in a research report on Thursday, January 22nd. Wall Street Zen cut Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, National Bank Financial raised Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $37.25.

Silver Standard Resources Stock Up 1.3%

Shares of SSRM stock traded up $0.38 during trading hours on Thursday, hitting $29.19. 3,017,067 shares of the company were exchanged, compared to its average volume of 3,091,869. The business has a 50 day moving average of $29.83 and a two-hundred day moving average of $25.44. The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.03. Silver Standard Resources has a 52 week low of $9.88 and a 52 week high of $36.51. The company has a market capitalization of $6.32 billion, a PE ratio of 15.78, a PEG ratio of 0.48 and a beta of -0.17.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $521.73 million during the quarter, compared to the consensus estimate of $436.23 million. Analysts anticipate that Silver Standard Resources will post 3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Silver Standard Resources by 27.1% during the 1st 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Silver Standard Resources by 96.6% during 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 worth $4,113,000 after purchasing an additional 201,525 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of 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 last quarter. Finally, Strs Ohio acquired a new position in shares of Silver Standard Resources during the 1st quarter worth about $50,000. 68.30% of the stock is currently 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.