Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have earned an average recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $36.00.

SSRM has been the subject of a number of analyst reports. Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. TD Cowen raised shares of Silver Standard Resources from a “hold” rating to a “buy” rating in a research report on Thursday, January 22nd. Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings upgraded shares of Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Finally, UBS Group raised their price objective on shares of Silver Standard Resources from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th.

Silver Standard Resources Stock Down 8.7%

Shares of Silver Standard Resources stock opened at $25.79 on Friday. Silver Standard Resources has a 12-month low of $8.65 and a 12-month high of $33.49. The firm has a market capitalization of $5.24 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.46 and a beta of -0.18. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $27.04 and its 200-day moving average is $23.91.

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

Institutional Trading of Silver Standard Resources

Several hedge funds and other institutional investors have recently modified their holdings of SSRM. Goldman Sachs Group Inc. boosted its position 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 valued at $24,895,000 after purchasing an additional 529,035 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 purchasing an additional 201,525 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of 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 purchasing an additional 70,726 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Silver Standard Resources during the 1st quarter valued at about $50,000. 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.