Brokerages Set Silver Standard Resources Inc. (NASDAQ:SSRM) Target Price at $36.00

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have received a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $36.00.

Several research analysts recently issued reports on the stock. TD Securities raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. BMO Capital Markets raised Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research report on Thursday, March 5th. Bank of America upgraded Silver Standard Resources from an “underperform” rating to a “buy” rating in a research note on Wednesday, March 4th. UBS Group boosted their price objective on Silver Standard Resources from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st.

Silver Standard Resources Price Performance

Shares of NASDAQ:SSRM opened at $28.40 on Friday. Silver Standard Resources has a twelve month low of $8.65 and a twelve month high of $33.49. The company’s 50 day moving average is $26.86 and its 200 day moving average is $23.83. The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.03. The company has a market cap of $5.77 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.46 and a beta of -0.18.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 17th. The basic materials company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.59 by $0.29. The business had revenue of $521.73 million during 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 EPS for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Several hedge funds have recently bought and sold shares of SSRM. AQR Capital Management LLC increased 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 purchasing an additional 70,726 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 valued at $24,895,000 after buying an additional 529,035 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Silver Standard Resources by 96.6% during 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 buying an additional 201,525 shares during the period. Finally, Strs Ohio purchased a new position in Silver Standard Resources in the first quarter valued at $50,000. 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.