Silver Standard Resources (NASDAQ:SSRM) Rating Lowered to “Neutral” at UBS Group

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was downgraded by investment analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Friday, Marketbeat.com reports. They currently have a $22.95 price target on the basic materials company’s stock, up from their previous price target of $18.95. UBS Group’s price objective would indicate a potential upside of 0.48% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets initiated coverage on shares of Silver Standard Resources in a report on Friday, July 18th. They issued a “market perform” rating and a $13.50 price target for the company. Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, Wall Street Zen upgraded shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 26th. Seven research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Silver Standard Resources has an average rating of “Hold” and an average target price of $13.55.

Silver Standard Resources Stock Up 4.8%

SSRM stock opened at $22.84 on Friday. Silver Standard Resources has a one year low of $5.06 and a one year high of $23.07. The stock has a market capitalization of $4.63 billion, a PE ratio of 29.28 and a beta of -0.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. The company has a fifty day moving average of $16.68 and a 200-day moving average of $13.16.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, August 5th. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.23 by $0.28. Silver Standard Resources had a net margin of 12.66% and a return on equity of 4.99%. The company had revenue of $410.54 million during the quarter, compared to analysts’ expectations of $381.08 million. As a group, analysts expect that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in Silver Standard Resources during the first quarter valued at approximately $32,000. Tacita Capital Inc acquired a new position in Silver Standard Resources during the 1st quarter worth approximately $48,000. Strs Ohio purchased a new position in Silver Standard Resources in the 1st quarter worth approximately $50,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of Silver Standard Resources during the first quarter valued at approximately $72,000. Finally, Simplicity Wealth LLC purchased a new stake in shares of Silver Standard Resources during the first quarter valued at approximately $109,000. 68.30% of the stock is owned by institutional investors and hedge funds.

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.