Silver Standard Resources (NASDAQ:SSRM) Price Target Raised to $34.50 at UBS Group

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its target price lifted by UBS Group from $31.50 to $34.50 in a research report sent to investors on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on SSRM. CIBC increased their target price on Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Bank of America lifted their price objective on Silver Standard Resources from $12.75 to $18.00 and gave the company an “underperform” rating in a report on Thursday, October 16th. Scotiabank upgraded shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. Wall Street Zen cut shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings reissued 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.60.

Silver Standard Resources Trading Down 0.1%

Shares of SSRM stock opened at $23.82 on Wednesday. The firm has a fifty day moving average of $21.88 and a 200-day moving average of $19.74. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 22.90 and a beta of -0.11. Silver Standard Resources has a 52-week low of $7.22 and a 52-week high of $25.98. 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 (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $390.16 million for the quarter, compared to analyst estimates of $444.80 million. On average, equities research analysts forecast that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silver Standard Resources

A number of hedge funds have recently added to or reduced their stakes in SSRM. Goldman Sachs Group Inc. increased its position in Silver Standard Resources by 27.1% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Silver Standard Resources by 96.6% in the first 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 valued at $4,113,000 after purchasing an additional 201,525 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Silver Standard Resources by 461.5% in the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock valued at $863,000 after purchasing an additional 70,726 shares in the last quarter. Finally, Strs Ohio bought a new position in Silver Standard Resources in the 1st quarter worth approximately $50,000. 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.