Silver Standard Resources (NASDAQ:SSRM) Price Target Raised to $31.50

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its target price raised by UBS Group from $29.60 to $31.50 in a research report report published on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the basic materials company’s stock.

Several other brokerages have also issued reports on SSRM. CIBC lifted their price target on shares of Silver Standard Resources from $28.50 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Scotiabank raised shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. BMO Capital Markets upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th. Bank of America increased their price target on Silver Standard Resources from $12.75 to $18.00 and gave the company an “underperform” rating in a research note on Thursday, October 16th. Finally, Zacks Research raised Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Silver Standard Resources Price Performance

Silver Standard Resources stock opened at $23.22 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. Silver Standard Resources has a 52 week low of $5.68 and a 52 week high of $25.98. The stock has a market capitalization of $4.71 billion, a P/E ratio of 29.77 and a beta of -0.11. The stock has a fifty day moving average of $22.54 and a 200-day moving average of $17.36.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $390.16 million for the quarter, compared to analysts’ expectations of $444.80 million. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%. On average, sell-side analysts expect that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Silver Standard Resources

Several institutional investors have recently added to or reduced their stakes in SSRM. Caitong International Asset Management Co. Ltd acquired a new stake in Silver Standard Resources during the 1st quarter valued at approximately $32,000. Tacita Capital Inc bought a new stake in shares of Silver Standard Resources in the 1st quarter valued at $48,000. Strs Ohio acquired a new stake in shares of Silver Standard Resources during the first quarter worth $50,000. Northwest & Ethical Investments L.P. bought a new position in Silver Standard Resources during the first quarter worth $72,000. Finally, Bayforest Capital Ltd bought a new position in Silver Standard Resources during the first quarter worth $147,000. 68.30% of the stock is currently owned by institutional investors.

Silver Standard Resources Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.