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

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities analysts have also issued research reports about the company. Scotiabank raised Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. Zacks Research lowered Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Bank of America upped their price objective on shares of Silver Standard Resources from $12.75 to $18.00 and gave the company an “underperform” rating in a report on Thursday, October 16th. UBS Group raised 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Silver Standard Resources in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.00.

Silver Standard Resources Stock Up 0.1%

Shares of NASDAQ SSRM opened at $22.01 on Friday. The stock has a market cap of $4.47 billion, a PE ratio of 21.16 and a beta of -0.11. The company has a current ratio of 2.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03. Silver Standard Resources has a 12-month low of $7.03 and a 12-month high of $25.98. The company has a 50-day moving average of $21.76 and a 200 day moving average of $19.46.

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 for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $390.16 million for the quarter, compared to analyst estimates of $444.80 million. Silver Standard Resources had a net margin of 15.36% and a return on equity of 6.46%. As a group, sell-side analysts predict that Silver Standard Resources will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Silver Standard Resources

A number of hedge funds have recently made changes to their positions in SSRM. Bayforest Capital Ltd purchased a new stake in Silver Standard Resources in the first quarter valued at approximately $147,000. Belpointe Asset Management LLC purchased a new position in shares of Silver Standard Resources during the first quarter worth $206,000. Strs Ohio acquired a new stake in shares of Silver Standard Resources in the first quarter valued at $50,000. AQR Capital Management LLC raised its holdings in shares of Silver Standard Resources by 461.5% in the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock valued at $863,000 after buying an additional 70,726 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Silver Standard Resources by 96.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 410,046 shares of the basic materials company’s stock worth $4,113,000 after acquiring an additional 201,525 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.