Silver Standard Resources (NASDAQ:SSRM) Upgraded to “Outperform” at National Bank Financial

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was upgraded by equities research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report issued on Wednesday, Marketbeat reports.

SSRM has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Silver Standard Resources in a research report on Thursday, January 22nd. Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Canadian Imperial Bank of Commerce increased their price objective on Silver Standard Resources from $28.50 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. TD Cowen raised Silver Standard Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 22nd. Finally, UBS Group increased their target price on shares of Silver Standard Resources from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Silver Standard Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.38.

Silver Standard Resources Stock Up 12.0%

Shares of NASDAQ SSRM traded up $3.47 on Wednesday, reaching $32.40. 2,941,713 shares of the company’s stock traded hands, compared to its average volume of 4,075,725. Silver Standard Resources has a 12 month low of $8.65 and a 12 month high of $33.21. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $25.40 and its two-hundred day simple moving average is $23.01. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 0.53 and a beta of -0.18.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 17th. The basic materials company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $521.73 million during the quarter, compared to analyst estimates of $436.23 million. As a group, equities research analysts forecast that Silver Standard Resources will post 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in shares of Silver Standard Resources in the 1st quarter valued at approximately $50,000. AQR Capital Management LLC boosted its position 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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. Finally, Goldman Sachs Group Inc. raised its position in Silver Standard Resources by 27.1% in 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 purchasing an additional 529,035 shares during the period. Institutional investors and hedge funds 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.