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

Wall Street Zen downgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

A number of other equities research analysts also recently weighed in on SSRM. BMO Capital Markets raised Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th. UBS Group cut shares of Silver Standard Resources from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $18.95 to $22.95 in a research note on Friday, September 19th. Scotiabank raised shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Silver Standard Resources in a report on Wednesday, October 8th. Finally, CIBC increased their price target on Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.29.

Silver Standard Resources Trading Up 0.9%

Shares of SSRM stock opened at $20.17 on Friday. The stock has a 50 day simple moving average of $22.52 and a 200 day simple moving average of $17.01. The stock has a market cap of $4.09 billion, a P/E ratio of 25.86 and a beta of -0.11. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. Silver Standard Resources has a 1 year low of $5.65 and a 1 year high of $25.98.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%.The company had revenue of $390.16 million for the quarter, compared to analyst estimates of $444.80 million. On average, research analysts predict that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silver Standard Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new position in Silver Standard Resources during the 1st quarter worth $18,759,000. Jacobs Levy Equity Management Inc. raised its position in Silver Standard Resources by 921.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,013,320 shares of the basic materials company’s stock worth $10,164,000 after acquiring an additional 914,084 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Silver Standard Resources by 413.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 930,200 shares of the basic materials company’s stock valued at $9,323,000 after acquiring an additional 748,900 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Silver Standard Resources by 2,392.4% in the first quarter. Russell Investments Group Ltd. now owns 579,552 shares of the basic materials company’s stock valued at $5,813,000 after acquiring an additional 556,299 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of 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 acquiring an additional 529,035 shares during the period. Institutional investors and hedge funds 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.