Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $41.60.

Several analysts have issued reports on the company. Zacks Research cut Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. Royal Bank Of Canada lowered their price target on Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Weiss Ratings lowered Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. UBS Group reduced their price objective on Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Bank of America decreased their price objective on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, July 9th.

Silver Standard Resources Price Performance

Shares of SSRM stock opened at $25.89 on Friday. The firm has a fifty day moving average of $29.71 and a two-hundred day moving average of $28.34. The firm has a market cap of $5.34 billion, a P/E ratio of 24.66, a P/E/G ratio of 2.47 and a beta of -0.10. Silver Standard Resources has a 1-year low of $11.70 and a 1-year high of $36.51. 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 issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.81 by $0.34. The business had revenue of $418.46 million for the quarter, compared to analysts’ expectations 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, research analysts anticipate that Silver Standard Resources will post 3.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silver Standard Resources

A number of institutional investors have recently modified their holdings of SSRM. Strs Ohio acquired a new stake in Silver Standard Resources during the first quarter worth about $50,000. AQR Capital Management LLC boosted its stake in 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 acquiring an additional 70,726 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 purchasing an additional 201,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of 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 purchasing an additional 529,035 shares during the last quarter. Institutional investors own 68.30% of the company’s stock.

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.