Silver Standard Resources (NASDAQ:SSRM) Raised to Strong-Buy at TD Securities

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was upgraded by TD Securities from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities analysts also recently issued reports on SSRM. Weiss Ratings reissued a “hold (c)” rating on shares of Silver Standard Resources in a research report on Wednesday, October 8th. Bank of America increased their target price on shares of Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a report on Thursday, October 16th. CIBC raised their target price on shares of Silver Standard Resources from $28.50 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. UBS Group upped their price target on shares of Silver Standard Resources from $31.50 to $34.50 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

Silver Standard Resources Price Performance

Silver Standard Resources stock opened at $26.26 on Thursday. 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 stock has a market cap of $5.33 billion, a price-to-earnings ratio of 25.25 and a beta of -0.11. The firm has a 50-day moving average of $22.36 and a two-hundred day moving average of $20.23. Silver Standard Resources has a 1 year low of $7.55 and a 1 year high of $26.86.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $444.80 million. On average, research analysts forecast that Silver Standard Resources will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On Silver Standard Resources

A number of large investors have recently made changes to their positions in SSRM. Strs Ohio acquired a new stake in shares of Silver Standard Resources in the 1st quarter worth $50,000. AQR Capital Management LLC raised its stake in 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 buying an additional 70,726 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 worth $4,113,000 after acquiring an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted 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 acquiring an additional 529,035 shares in the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

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.