Silver Standard Resources Inc. (SSRM) Cut to Hold at Zacks Investment Research
Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Several other brokerages have also recently issued reports on SSRM. Royal Bank Of Canada reiterated an “outperform” rating on shares of Silver Standard Resources in a research report on Thursday, September 7th. Scotiabank upgraded Silver Standard Resources from a “sector perform” rating to an “outperform” rating and set a $13.00 price target on the stock in a research report on Monday, September 25th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Silver Standard Resources has an average rating of “Hold” and a consensus target price of $13.00.
Silver Standard Resources (NASDAQ:SSRM) traded up 2.16% during mid-day trading on Wednesday, reaching $11.34. The company’s stock had a trading volume of 1,836,368 shares. The company has a market capitalization of $1.36 billion, a PE ratio of 12.89 and a beta of -0.19. The firm has a 50 day moving average price of $10.53 and a 200-day moving average price of $10.07. Silver Standard Resources has a 1-year low of $7.70 and a 1-year high of $12.90.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued 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 return on equity of 10.69% and a net margin of 20.37%. 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 firm earned $0.25 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts predict that Silver Standard Resources will post $0.40 EPS for the current fiscal year.
WARNING: This piece was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/11/silver-standard-resources-inc-ssrm-cut-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Silver Standard Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silver Standard Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.