Silver Standard Resources (NASDAQ:SSRM) Rating Increased to Buy at TD Cowen

TD Cowen upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a buy rating in a research report released on Thursday morning, MarketBeat Ratings reports.

Several other analysts have also weighed in on SSRM. CIBC raised their price objective on shares of Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Zacks Research lowered Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Wall Street Zen downgraded Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 10th. BMO Capital Markets raised Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 30th. Finally, UBS Group raised their target price on Silver Standard Resources from $31.50 to $34.50 and gave the company a “buy” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.60.

Silver Standard Resources Stock Up 12.3%

Silver Standard Resources stock opened at $25.98 on Thursday. 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 1-year low of $7.55 and a 1-year high of $26.10. The firm’s fifty day simple moving average is $22.26 and its 200-day simple moving average is $20.14. The company has a market capitalization of $5.27 billion, a P/E ratio of 24.98 and a beta of -0.11.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced 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 return on equity of 6.46% and a net margin of 15.36%.The firm had revenue of $390.16 million during the quarter, compared to the consensus estimate of $444.80 million. Sell-side 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

Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio acquired a new position in Silver Standard Resources in the 1st quarter worth about $50,000. AQR Capital Management LLC lifted its holdings in shares of Silver Standard Resources by 461.5% during 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Silver Standard Resources by 96.6% in 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 valued at $4,113,000 after buying an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Silver Standard Resources by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after buying an additional 529,035 shares during the last quarter. 68.30% of the stock is owned by institutional investors.

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.