Silver Standard Resources Inc. (NASDAQ:SSRM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $38.20.

SSRM has been the subject of several recent research reports. BMO Capital Markets raised 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 report on Wednesday, March 4th. UBS Group upped their price objective on shares of Silver Standard Resources from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings cut shares of Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Finally, Zacks Research cut shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in shares of Silver Standard Resources in the first quarter worth $50,000. AQR Capital Management LLC grew its stake in shares of Silver Standard Resources by 461.5% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 worth $4,113,000 after acquiring an additional 201,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Silver Standard Resources by 27.1% in 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 acquiring an additional 529,035 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors.

Silver Standard Resources Stock Performance

Silver Standard Resources stock opened at $29.38 on Monday. The company has a quick ratio of 4.57, a current ratio of 5.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6.10 billion, a PE ratio of 27.98, a P/E/G ratio of 0.35 and a beta of -0.14. The firm has a fifty day simple moving average of $30.20 and a two-hundred day simple moving average of $27.68. Silver Standard Resources has a twelve month low of $11.70 and a twelve month high of $36.51.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.34. The business had revenue of $581.78 million during the quarter, compared to the consensus estimate of $524.80 million. Silver Standard Resources had a net margin of 12.17% and a return on equity of 14.87%. Research analysts expect that Silver Standard Resources will post 4.49 EPS for the current year.

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.