Silver Standard Resources Shares Down 4.3% Following Analyst Downgrade (SSRI)
Silver Standard Resources (NASDAQ:SSRI) shares dropped 4.3% during trading on Thursday after RBC Capital lowered their price target on the stock from $11.00 to $10.00, AnalystRatings.Net reports. The stock traded as low as $8.79 and last traded at $8.81, with a volume of 2,490,009 shares. The stock had previously closed at $9.21.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank upgraded shares of Silver Standard Resources from a “sell” rating to a “hold” rating in a research note on Monday, June 16th. They now have a $8.00 price target on the stock, down previously from $9.00. Separately, analysts at TheStreet downgraded shares of Silver Standard Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, May 13th. Finally, analysts at Cowen and Company cut their price target on shares of Silver Standard Resources from $16.21 to $15.51 in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $11.08.
The stock has a 50-day moving average of $7.73 and a 200-day moving average of $8.90. The company’s market cap is $711.4 million.
Silver Standard Resources (NASDAQ:SSRI) last announced its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.17) by $0.04. On average, analysts predict that Silver Standard Resources will post $-0.36 earnings per share for the current fiscal year.
Silver Standard Resources Inc is a silver resource company. The Company’s properties are located in six countries in the Americas.
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