Silver Standard Resources (NASDAQ:SSRM) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a strong-buy rating in a report released on Saturday.

A number of other equities research analysts have also commented on the company. Cormark upgraded Silver Standard Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 22nd. National Bank Financial upgraded shares of Silver Standard Resources to a “hold” rating in a report on Friday, March 21st. UBS Group boosted their price target on Silver Standard Resources from $12.10 to $12.35 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, National Bankshares reissued a “sector perform” rating on shares of Silver Standard Resources in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.03.

Silver Standard Resources Price Performance

Shares of SSRM opened at $13.03 on Friday. The stock has a market cap of $2.64 billion, a PE ratio of 31.78 and a beta of -0.13. The company has a quick ratio of 1.85, a current ratio of 3.95 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $11.45 and a two-hundred day simple moving average of $9.78. Silver Standard Resources has a 12-month low of $4.32 and a 12-month high of $13.46.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.21. Silver Standard Resources had a return on equity of 2.44% and a net margin of 7.82%. The company had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $332.64 million. Analysts anticipate that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in shares of Silver Standard Resources by 1.1% in the 4th quarter. Rhumbline Advisers now owns 325,929 shares of the basic materials company’s stock worth $2,268,000 after acquiring an additional 3,681 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Silver Standard Resources by 47.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 46,715 shares of the basic materials company’s stock worth $325,000 after purchasing an additional 15,128 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Silver Standard Resources by 0.5% in the fourth quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock worth $1,729,000 after purchasing an additional 1,282 shares during the last quarter. Alberta Investment Management Corp raised its position in Silver Standard Resources by 72.3% in the 4th quarter. Alberta Investment Management Corp now owns 246,700 shares of the basic materials company’s stock valued at $1,722,000 after buying an additional 103,500 shares during the last quarter. Finally, Olympiad Research LP purchased a new stake in Silver Standard Resources in the 4th quarter valued at $94,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

Silver Standard Resources Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.