Silver Standard Resources (NASDAQ:SSRM) Lowered to “Hold” Rating by Zacks Research

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

SSRM has been the subject of several other reports. CIBC lifted their price target on Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. UBS Group increased their price objective on Silver Standard Resources from $29.60 to $31.50 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. BMO Capital Markets raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 30th. Scotiabank upgraded shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Silver Standard Resources currently has an average rating of “Hold” and an average target price of $20.00.

Silver Standard Resources Price Performance

Shares of SSRM opened at $21.94 on Monday. The firm has a market capitalization of $4.45 billion, a PE ratio of 21.10 and a beta of -0.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.41 and a quick ratio of 1.24. Silver Standard Resources has a fifty-two week low of $6.84 and a fifty-two week high of $25.98. The company’s 50-day moving average is $21.86 and its 200-day moving average is $19.04.

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

Institutional Investors Weigh In On Silver Standard Resources

Large investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its position in shares of Silver Standard Resources by 921.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,013,320 shares of the basic materials company’s stock valued at $10,164,000 after buying an additional 914,084 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Silver Standard Resources by 27.1% in 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 acquiring an additional 529,035 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 in the last quarter. AQR Capital Management LLC raised its position in 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 valued at $863,000 after purchasing an additional 70,726 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Silver Standard Resources during the first quarter worth $540,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Silver Standard Resources Company Profile

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.