Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Average Rating of “Hold” from Brokerages

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been assigned a consensus recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $10.53.

Several research analysts have recently commented on SSRM shares. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. National Bankshares restated a “sector perform” rating on shares of Silver Standard Resources in a research note on Wednesday, April 23rd. Cormark upgraded Silver Standard Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, April 22nd. UBS Group restated a “neutral” rating and set a $13.85 target price (up from $12.35) on shares of Silver Standard Resources in a research note on Tuesday, June 24th. Finally, National Bank Financial upgraded Silver Standard Resources to a “hold” rating in a research note on Friday, March 21st.

Silver Standard Resources Trading Up 0.4%

SSRM opened at $13.21 on Monday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 32.22 and a beta of -0.12. The company has a current ratio of 3.95, a quick ratio of 1.85 and a debt-to-equity ratio of 0.08. Silver Standard Resources has a 12 month low of $4.32 and a 12 month high of $13.46. The stock has a fifty day moving average price of $11.85 and a 200-day moving average price of $10.10.

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

Institutional Trading of Silver Standard Resources

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its stake in Silver Standard Resources by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Silver Standard Resources during the 4th quarter valued at about $29,000. Allianz SE purchased a new stake in Silver Standard Resources during the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in Silver Standard Resources during the 1st quarter valued at about $32,000. Finally, Tacita Capital Inc purchased a new stake in Silver Standard Resources during the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

About Silver Standard Resources

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.