Silver Standard Resources (NASDAQ:SSRM) Stock Rating Upgraded by Wall Street Zen

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

A number of other brokerages have also recently weighed in on SSRM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Silver Standard Resources in a research note on Wednesday, October 8th. Scotiabank upgraded Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, October 23rd. CIBC lifted their target price on Silver Standard Resources from $28.50 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Bank of America increased their price target on shares of Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a research report on Thursday, October 16th. Finally, BMO Capital Markets raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Silver Standard Resources Price Performance

Silver Standard Resources stock opened at $22.21 on Friday. The company’s 50 day simple moving average is $22.13 and its 200-day simple moving average is $18.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.24 and a current ratio of 2.41. Silver Standard Resources has a 1 year low of $6.78 and a 1 year high of $25.98. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 21.36 and a beta of -0.10.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Silver Standard Resources had a net margin of 15.36% and a return on equity of 6.46%. The firm had revenue of $390.16 million during the quarter, compared to analysts’ expectations of $444.80 million. As a group, equities research analysts expect that Silver Standard Resources will post 0.73 earnings per share for the current year.

Institutional Trading of Silver Standard Resources

A number of large investors have recently made changes to their positions in SSRM. Nuveen LLC purchased a new position in Silver Standard Resources in the first quarter worth approximately $18,759,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Silver Standard Resources by 921.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,013,320 shares of the basic materials company’s stock valued at $10,164,000 after purchasing an additional 914,084 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Silver Standard Resources by 2,392.4% during the 1st quarter. Russell Investments Group Ltd. now owns 579,552 shares of the basic materials company’s stock worth $5,813,000 after purchasing an additional 556,299 shares during the last quarter. Goldman Sachs Group Inc. lifted 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 worth $24,895,000 after purchasing an additional 529,035 shares during the last quarter. Finally, Sprott Inc. grew its stake in shares of Silver Standard Resources by 136.3% during the first quarter. Sprott Inc. now owns 384,034 shares of the basic materials company’s stock worth $3,852,000 after purchasing an additional 221,533 shares in the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

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.