Silver Standard Resources (NASDAQ:SSRM) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a market perform rating to an outperform rating in a research note published on Thursday morning, Marketbeat reports. They currently have $41.00 target price on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the stock. TD Securities upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Silver Standard Resources in a research note on Thursday, January 22nd. Bank of America upgraded Silver Standard Resources from an “underperform” rating to a “buy” rating in a report on Wednesday. Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Zacks Research cut Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Silver Standard Resources presently has an average rating of “Moderate Buy” and an average target price of $31.25.

Silver Standard Resources Stock Performance

NASDAQ SSRM opened at $30.53 on Thursday. The company has a market cap of $6.20 billion, a P/E ratio of 16.50, a PEG ratio of 0.50 and a beta of -0.18. The company has a fifty day simple moving average of $25.92 and a 200 day simple moving average of $23.29. The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.03. Silver Standard Resources has a 12-month low of $8.65 and a 12-month high of $33.49.

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

Hedge Funds Weigh In On Silver Standard Resources

Several institutional investors have recently modified their holdings of the business. Strs Ohio bought a new stake in Silver Standard Resources during the first quarter worth $50,000. AQR Capital Management LLC increased its position 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 worth $4,113,000 after purchasing an additional 201,525 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 worth $24,895,000 after purchasing an additional 529,035 shares during the period. 68.30% of the stock is owned by institutional investors.

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.