Silver Standard Resources (NASDAQ:SSRM) Rating Lowered to Buy at Wall Street Zen

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other analysts also recently commented on SSRM. Weiss Ratings downgraded shares of Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. Royal Bank Of Canada dropped their target price on shares of Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. UBS Group cut their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Bank of America reduced their price target on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Silver Standard Resources currently has a consensus rating of “Moderate Buy” and an average price target of $41.60.

Silver Standard Resources Stock Performance

NASDAQ SSRM opened at $25.57 on Friday. The business has a 50 day simple moving average of $29.54 and a 200 day simple moving average of $28.37. Silver Standard Resources has a one year low of $11.70 and a one year high of $36.51. The stock has a market capitalization of $5.28 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.25 and a beta of -0.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.33 and a quick ratio of 4.57.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share 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 $418.46 million during the quarter, compared to the consensus estimate of $524.79 million. Research analysts expect that Silver Standard Resources will post 3.92 earnings per share for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio bought a new position in shares of Silver Standard Resources in the 1st quarter worth $50,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 period. Goldman Sachs Group Inc. increased its stake 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 valued at $24,895,000 after purchasing an additional 529,035 shares in the last quarter. Finally, AQR Capital Management LLC increased 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 valued at $863,000 after purchasing an additional 70,726 shares in the last quarter. Institutional investors 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.