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 note issued to investors 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. “
A number of other analysts also recently commented on SSRM. Royal Bank Of Canada reissued a “buy” rating and issued a $13.00 price objective on shares of Silver Standard Resources in a research note on Wednesday, August 2nd. Scotiabank raised Silver Standard Resources from a “sector perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research note on Monday, September 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.75.
Shares of Silver Standard Resources (NASDAQ:SSRM) opened at 9.86 on Wednesday. The firm has a 50-day moving average price of $10.53 and a 200 day moving average price of $10.03. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 11.20 and a beta of -0.19. Silver Standard Resources has a 12-month low of $7.70 and a 12-month high of $12.90.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.11 EPS for the quarter, topping the Zacks’ 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 the consensus estimate of $117.05 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that Silver Standard Resources will post $0.41 earnings per share for the current fiscal 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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