Silver Standard Resources Inc. (SSRM) Upgraded to Buy by 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 research note issued on Wednesday. The brokerage currently has a $11.00 price target on the basic materials company’s stock. Zacks Investment Research‘s target price points to a potential upside of 7.21% from the company’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. “
Other equities research analysts have also recently issued reports about the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $13.00 target price on shares of Silver Standard Resources in a research report on Wednesday, August 2nd. ValuEngine cut shares of Silver Standard Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $13.25.
Shares of Silver Standard Resources (SSRM) opened at 10.26 on Wednesday. The stock has a 50 day moving average of $10.09 and a 200-day moving average of $10.04. Silver Standard Resources has a 1-year low of $7.70 and a 1-year high of $13.73. The stock has a market capitalization of $1.23 billion, a P/E ratio of 11.66 and a beta of -0.17.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $117.05 million. During the same period last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that Silver Standard Resources will post $0.40 earnings per share for the current fiscal year.
Silver Standard Resources Company Profile
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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