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

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has received a consensus recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.60.

Several brokerages have recently weighed in on SSRM. Scotiabank raised Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. BMO Capital Markets raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th. CIBC boosted their target price on shares of Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Bank of America raised their price target on shares of Silver Standard Resources from $12.75 to $18.00 and gave the company an “underperform” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Silver Standard Resources in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Silver Standard Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in shares of Silver Standard Resources during the first quarter worth $50,000. AQR Capital Management LLC grew its stake 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 acquiring an additional 70,726 shares in 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% 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 valued at $4,113,000 after acquiring an additional 201,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Silver Standard Resources by 27.1% in 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 in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

Silver Standard Resources Trading Up 12.3%

Shares of Silver Standard Resources stock opened at $25.98 on Friday. The firm has a 50-day simple moving average of $22.26 and a two-hundred day simple moving average of $20.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.24 and a current ratio of 2.41. Silver Standard Resources has a fifty-two week low of $7.55 and a fifty-two week high of $26.10. The company has a market cap of $5.27 billion, a P/E ratio of 24.98 and a beta of -0.11.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $390.16 million during the quarter, compared to analyst estimates of $444.80 million. Silver Standard Resources had a return on equity of 6.46% and a net margin of 15.36%. As a group, equities analysts predict that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

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.