Brokerages Set Silver Standard Resources Inc. (NASDAQ:SSRM) Target Price at $41.60

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $41.60.

A number of equities analysts recently commented on SSRM shares. UBS Group reduced their price target on Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Royal Bank Of Canada dropped their price objective on Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen cut Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research downgraded Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Weiss Ratings lowered Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday.

Silver Standard Resources Stock Performance

Shares of SSRM stock opened at $25.57 on Friday. The company has a fifty day moving average price of $29.54 and a two-hundred day moving average price of $28.37. Silver Standard Resources has a one year low of $11.70 and a one year high of $36.51. The stock has a market cap of $5.28 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.25 and a beta of -0.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.33 and a quick ratio of 4.57.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.34. The company had revenue of $418.46 million for the quarter, compared to analyst estimates of $524.79 million. Silver Standard Resources had a net margin of 12.17% and a return on equity of 14.87%. As a group, equities analysts predict that Silver Standard Resources will post 3.92 EPS for the current year.

Hedge Funds Weigh In On Silver Standard Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position 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 period. Goldman Sachs Group Inc. boosted its holdings 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 buying an additional 529,035 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 buying an additional 201,525 shares during the period. Finally, Strs Ohio acquired a new position in Silver Standard Resources in the 1st quarter valued at about $50,000. 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.