Silver Standard Resources (NASDAQ:SSRM) Stock Price Expected to Rise, UBS Group Analyst Says

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its price target raised by equities researchers at UBS Group from $36.00 to $37.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target would suggest a potential upside of 27.10% from the company’s previous close.

Several other research firms also recently issued reports on SSRM. Zacks Research downgraded Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. TD Cowen upgraded Silver Standard Resources from a “hold” rating to a “buy” rating in a research report on Thursday, January 22nd. Wall Street Zen lowered Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 10th. TD Securities upgraded Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Silver Standard Resources in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.38.

Silver Standard Resources Trading Up 9.5%

SSRM opened at $29.11 on Wednesday. Silver Standard Resources has a 1-year low of $8.65 and a 1-year high of $29.68. The stock has a market capitalization of $5.91 billion, a PE ratio of 15.74 and a beta of -0.14. The company has a current ratio of 2.08, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $24.06 and a two-hundred day moving average price of $22.03.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.29. The company had revenue of $521.73 million for the quarter, compared to analyst estimates of $436.23 million. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%. As a group, equities analysts anticipate that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.