Brokerages Set Silver Standard Resources Inc. (NASDAQ:SSRM) PT at $23.75

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.3750.

A number of equities analysts have issued reports on the company. TD Securities upgraded Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Scotiabank upgraded shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, October 23rd. Wall Street Zen cut shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 10th. TD Cowen upgraded shares of Silver Standard Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 22nd. Finally, UBS Group lifted their price target on shares of Silver Standard Resources from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday.

Hedge Funds Weigh In On Silver Standard Resources

A number of large investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in Silver Standard Resources in the 1st quarter valued at approximately $50,000. AQR Capital Management LLC raised 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 worth $4,113,000 after purchasing an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Silver Standard Resources by 27.1% during 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 purchasing an additional 529,035 shares during the last quarter. Institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Stock Up 9.5%

Shares of NASDAQ:SSRM opened at $29.11 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.08 and a quick ratio of 1.24. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 15.74 and a beta of -0.14. The company has a 50 day moving average of $24.06 and a 200-day moving average of $22.03. Silver Standard Resources has a one year low of $8.65 and a one year high of $29.68.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.29. The firm had revenue of $521.73 million for the quarter, compared to analysts’ expectations of $436.23 million. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%. On average, sell-side analysts forecast that Silver Standard Resources will post 0.73 earnings per share for the current year.

About Silver Standard Resources

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.