Silver Standard Resources (NASDAQ:SSRM) Upgraded at TD Securities

TD Securities upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

Several other research analysts also recently commented on SSRM. Scotiabank raised Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, October 23rd. Bank of America boosted their price objective on Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a research note on Thursday, October 16th. BMO Capital Markets upgraded Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th. TD Cowen raised Silver Standard Resources from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Silver Standard Resources Stock Up 1.1%

Shares of NASDAQ:SSRM opened at $26.26 on Thursday. The company’s fifty day moving average is $22.36 and its 200-day moving average is $20.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.24 and a current ratio of 2.41. Silver Standard Resources has a 52 week low of $7.55 and a 52 week high of $26.86. The company has a market capitalization of $5.33 billion, a PE ratio of 25.25 and a beta of -0.11.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $390.16 million during the quarter, compared to the consensus estimate of $444.80 million. Silver Standard Resources had a net margin of 15.36% and a return on equity of 6.46%. Equities research analysts predict that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SSRM. Goldman Sachs Group Inc. grew its position in shares of Silver Standard Resources by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after buying an additional 529,035 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Silver Standard Resources by 96.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 410,046 shares of the basic materials company’s stock valued at $4,113,000 after acquiring an additional 201,525 shares during the last quarter. AQR Capital Management LLC grew its holdings in Silver Standard Resources by 461.5% during the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after acquiring an additional 70,726 shares during the period. Finally, Strs Ohio acquired a new stake in Silver Standard Resources during the 1st quarter worth $50,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

About Silver Standard Resources

Silver Standard Resources Inc (NASDAQ: SSRM) is a Vancouver‐based precious metals company engaged in the acquisition, exploration, development and production of silver and gold deposits primarily across the Americas. The company’s strategy centers on advancing high‐quality projects into production while maintaining a portfolio of operating mines that deliver consistent metal output. Silver Standard emphasizes sustainable resource development and community partnership at each stage of its operations.

The company’s principal producing assets include the Marigold gold mine in Nevada, which entered commercial production in 2006; the Seabee gold operation in Saskatchewan, Canada, acquired in 2016; and the Pirquitas silver‐gold mine in Argentina, which began producing in 2009.