Analysts Set Silver Standard Resources Inc. (NASDAQ:SSRM) Target Price at $37.25

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been given an average rating of “Buy” by the ten brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $37.25.

A number of equities research analysts have recently weighed in on SSRM shares. Weiss Ratings upgraded shares of Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 2nd. TD Cowen upgraded shares of Silver Standard Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 22nd. Bank of America upgraded shares of Silver Standard Resources from an “underperform” rating to a “buy” rating in a report on Wednesday, March 4th. Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price objective for the company in a report on Thursday, March 12th.

Institutional Investors Weigh In On Silver Standard Resources

Hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new stake in shares of Silver Standard Resources in the 1st quarter worth approximately $50,000. AQR Capital Management LLC raised its holdings in 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 raised its holdings in Silver Standard Resources by 96.6% during 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 during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Silver Standard Resources by 27.1% during 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 buying an additional 529,035 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors.

Silver Standard Resources Price Performance

SSRM stock opened at $33.13 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.08 and a quick ratio of 1.25. Silver Standard Resources has a one year low of $9.88 and a one year high of $36.51. The stock has a market cap of $7.17 billion, a PE ratio of 17.91, a P/E/G ratio of 0.54 and a beta of -0.11. The firm has a 50 day simple moving average of $28.49 and a two-hundred day simple moving average of $24.75.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 17th. The basic materials company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates 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, analysts predict that Silver Standard Resources will post 0.73 EPS for the current fiscal year.

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.