Silver Standard Resources (NASDAQ:SSRM) Upgraded by Wall Street Zen to “Strong-Buy” Rating

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

SSRM has been the subject of a number of other research reports. Cormark raised Silver Standard Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 22nd. UBS Group boosted their price target on Silver Standard Resources from $12.10 to $12.35 and gave the company a “buy” rating in a research report on Friday, April 11th. National Bankshares reissued a “sector perform” rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. Finally, National Bank Financial raised Silver Standard Resources to a “hold” rating in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.03.

Silver Standard Resources Price Performance

Shares of NASDAQ:SSRM opened at $12.74 on Friday. The company has a market cap of $2.58 billion, a P/E ratio of 31.07 and a beta of -0.13. The company has a quick ratio of 1.85, a current ratio of 3.95 and a debt-to-equity ratio of 0.08. Silver Standard Resources has a 52 week low of $4.32 and a 52 week high of $13.46. The business has a fifty day simple moving average of $11.37 and a 200-day simple moving average of $9.64.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.21. Silver Standard Resources had a return on equity of 2.44% and a net margin of 7.82%. The firm had revenue of $303.43 million during the quarter, compared to the consensus estimate of $332.64 million. Equities research analysts forecast that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG boosted its position in shares of Silver Standard Resources by 23.5% in the fourth quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company’s stock worth $2,530,000 after buying an additional 69,124 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Silver Standard Resources by 23.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company’s stock worth $13,351,000 after buying an additional 370,006 shares during the period. RFG Advisory LLC purchased a new stake in shares of Silver Standard Resources in the first quarter worth about $206,000. American Century Companies Inc. boosted its position in shares of Silver Standard Resources by 99.3% in the fourth quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company’s stock worth $3,528,000 after buying an additional 252,293 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Silver Standard Resources by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,378,659 shares of the basic materials company’s stock worth $9,614,000 after buying an additional 51,408 shares during the period. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.