Silver Standard Resources (NASDAQ:SSRM) Downgraded by Zacks Research to Strong Sell

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, Zacks reports.

Other analysts also recently issued research reports about the stock. UBS Group decreased their price objective on shares of Silver Standard Resources from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. Bank of America cut their target price on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings raised Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. Wall Street Zen downgraded Silver Standard Resources from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Royal Bank Of Canada raised their price target on Silver Standard Resources from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.60.

Silver Standard Resources Trading Down 0.7%

SSRM stock opened at $31.27 on Monday. Silver Standard Resources has a 12 month low of $18.19 and a 12 month high of $39.44. The company has a 50-day moving average price of $35.17 and a 200 day moving average price of $31.63. The stock has a market cap of $6.30 billion, a PE ratio of 10.46, a P/E/G ratio of 7.81 and a beta of -0.10.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Silver Standard Resources had a net margin of 12.30% and a return on equity of 16.17%. The firm had revenue of $443.80 million for the quarter, compared to the consensus estimate of $483.84 million. Sell-side analysts forecast that Silver Standard Resources will post 3.25 EPS for the current year.

Silver Standard Resources Company Profile

Silver Standard Resources, now known as SSR Mining Inc (NASDAQ: SSRM), is a precious metals mining company focused primarily on the exploration, development and production of gold and silver. The company’s operations have included open-pit and underground mines, processing facilities and exploration properties in the Americas and Türkiye.

SSR Mining has historically operated the Marigold gold mine in Nevada, the Seabee gold operation in Saskatchewan, Canada, and the Puna silver-lead-zinc complex in Jujuy, Argentina.