Silver Standard Resources Inc. (NASDAQ:SSRM) Given Average Recommendation of “Buy” by Analysts

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned a consensus recommendation of “Buy” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $37.75.

A number of analysts have recently issued reports on the company. BMO Capital Markets raised Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a research report on Thursday, March 5th. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings lowered Silver Standard Resources from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday. Canadian Imperial Bank of Commerce raised Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 target price on the stock in a research report on Thursday, March 12th. Finally, National Bank Financial raised Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a report on Wednesday, March 4th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SSRM. Goldman Sachs Group Inc. lifted its holdings in 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 buying an additional 529,035 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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 buying an additional 201,525 shares during the last quarter. AQR Capital Management LLC lifted its holdings 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 buying an additional 70,726 shares during the last quarter. Finally, Strs Ohio bought a new position in Silver Standard Resources during the 1st quarter worth approximately $50,000. Institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Stock Up 4.6%

Shares of NASDAQ SSRM opened at $34.20 on Friday. Silver Standard Resources has a 1 year low of $10.19 and a 1 year high of $36.51. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 0.48 and a beta of -0.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 5.33. The stock’s 50-day simple moving average is $29.88 and its 200-day simple moving average is $25.60.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $524.80 million. As a group, equities analysts anticipate that Silver Standard Resources will post 3.93 earnings per share for the current fiscal year.

About Silver Standard Resources

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.