Silver Standard Resources Inc. (SSRM) Lifted to Buy at Zacks Investment Research
Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $12.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.05% from the stock’s previous close.
According to Zacks, “SSR Mining Inc. is a mining company. It focused on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, other industrial, technology, pharmaceuticals and solar energy markets. SSR Mining Inc, formerly known as Silver Standard Resources Inc, is based in Vancouver, Canada. “
SSRM has been the topic of a number of other research reports. ValuEngine lowered shares of Silver Standard Resources from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Silver Standard Resources in a report on Thursday, September 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Silver Standard Resources currently has a consensus rating of “Buy” and a consensus price target of $13.50.
Silver Standard Resources (NASDAQ SSRM) traded down 0.38% on Thursday, reaching $10.43. 1,163,976 shares of the company’s stock traded hands. Silver Standard Resources has a 52-week low of $7.70 and a 52-week high of $13.73. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 11.85 and a beta of -0.17. The company’s 50 day moving average is $10.06 and its 200-day moving average is $10.05.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Silver Standard Resources had a net margin of 20.37% and a return on equity of 10.69%. The company had revenue of $116.98 million for the quarter, compared to analyst estimates of $117.05 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts expect that Silver Standard Resources will post $0.40 EPS for the current year.
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About Silver Standard Resources
SSR Mining Inc, formerly Silver Standard Resources Inc, is a Canada-based resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties.
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