Silver Standard Resources Inc. (SSRM) Upgraded 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 brokerage currently has a $11.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.13% from the company’s current price.
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 analysts also recently issued reports on SSRM. Royal Bank Of Canada upgraded Silver Standard Resources from a “sector perform” rating to an “outperform” rating and set a $13.00 price target for the company in a research note on Thursday, June 29th. Scotiabank raised Silver Standard Resources from a “sector perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research report on Monday, September 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $12.75.
Silver Standard Resources (NASDAQ:SSRM) traded down 1.31% during mid-day trading on Thursday, hitting $9.81. The company had a trading volume of 1,180,181 shares. The company’s 50 day moving average price is $10.57 and its 200-day moving average price is $10.06. The company has a market cap of $1.17 billion, a PE ratio of 11.15 and a beta of -0.19. Silver Standard Resources has a one year low of $7.70 and a one year high of $12.90.
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 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 firm had revenue of $116.98 million for the quarter, compared to analyst estimates of $117.05 million. During the same period in the previous year, the firm earned $0.25 earnings per share. Silver Standard Resources’s quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts anticipate that Silver Standard Resources will post $0.41 EPS for the current fiscal year.
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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