Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Average Rating of “Moderate Buy” from Analysts

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.00.

SSRM has been the subject of several research reports. UBS Group increased their price objective on shares of Silver Standard Resources from $29.60 to $31.50 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Bank of America upped their target price on shares of Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a research note on Thursday, October 16th. Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. BMO Capital Markets upgraded Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th. Finally, Scotiabank raised Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, October 23rd.

Hedge Funds Weigh In On Silver Standard Resources

Several hedge funds have recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of Silver Standard Resources in the first quarter valued at approximately $50,000. Bayforest Capital Ltd bought a new position in Silver Standard Resources in the first quarter valued at $147,000. Ieq Capital LLC bought a new position in Silver Standard Resources in the first quarter valued at $173,000. Belpointe Asset Management LLC acquired a new stake in Silver Standard Resources in the 1st quarter valued at $206,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Silver Standard Resources during the 1st quarter worth about $540,000. 68.30% of the stock is owned by institutional investors.

Silver Standard Resources Trading Up 1.5%

NASDAQ SSRM opened at $23.16 on Monday. Silver Standard Resources has a one year low of $6.78 and a one year high of $25.98. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.41 and a quick ratio of 1.24. The firm has a market cap of $4.70 billion, a P/E ratio of 22.27 and a beta of -0.10. The stock’s 50-day moving average is $21.92 and its 200-day moving average is $18.91.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $390.16 million during the quarter, compared to analyst estimates of $444.80 million. Silver Standard Resources had a return on equity of 6.46% and a net margin of 15.36%. Sell-side analysts anticipate that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Silver Standard Resources Company Profile

Silver Standard Resources Inc (NASDAQ: SSRM) is a Vancouver‐based precious metals company engaged in the acquisition, exploration, development and production of silver and gold deposits primarily across the Americas. The company’s strategy centers on advancing high‐quality projects into production while maintaining a portfolio of operating mines that deliver consistent metal output. Silver Standard emphasizes sustainable resource development and community partnership at each stage of its operations.

The company’s principal producing assets include the Marigold gold mine in Nevada, which entered commercial production in 2006; the Seabee gold operation in Saskatchewan, Canada, acquired in 2016; and the Pirquitas silver‐gold mine in Argentina, which began producing in 2009.