Silver Standard Resources Inc. (NASDAQ:SSRM) Given Consensus Rating of “Buy” by Brokerages

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

A number of equities research analysts have issued reports on the company. TD Cowen raised Silver Standard Resources from a “hold” rating to a “buy” rating in a research report on Thursday, January 22nd. National Bank Financial raised shares of Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 4th. UBS Group boosted their price objective on shares of Silver Standard Resources from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. BMO Capital Markets upgraded shares of Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Thursday, March 5th. Finally, Bank of America raised shares of Silver Standard Resources from an “underperform” rating to a “buy” rating in a research report on Wednesday, March 4th.

Silver Standard Resources Price Performance

NASDAQ SSRM opened at $28.18 on Friday. Silver Standard Resources has a fifty-two week low of $8.65 and a fifty-two week high of $33.49. The stock’s 50-day moving average is $26.72 and its two-hundred day moving average is $23.69. The firm has a market cap of $5.72 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 0.48 and a beta of -0.18. 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 (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.29. Silver Standard Resources had a return on equity of 10.40% and a net margin of 24.28%.The company had revenue of $521.73 million during the quarter, compared to the consensus estimate of $436.23 million. On average, analysts anticipate 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 large investors have recently made changes to their positions in SSRM. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 529,035 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Silver Standard Resources by 96.6% in 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. AQR Capital Management LLC lifted its holdings in shares of Silver Standard Resources by 461.5% during the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after buying an additional 70,726 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Silver Standard Resources during the first quarter worth approximately $50,000. Institutional investors and hedge funds 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.