Silver Standard Resources (NASDAQ:SSRM) Price Target Raised to $42.00

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its target price boosted by UBS Group from $41.00 to $42.00 in a research note issued to investors on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the basic materials company’s stock.

Several other research analysts have also issued reports on SSRM. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. BMO Capital Markets upgraded Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research report on Thursday, March 5th. Weiss Ratings cut Silver Standard Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 20th. National Bank Financial upgraded Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a report on Wednesday, March 4th. Finally, Zacks Research cut shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.25.

Silver Standard Resources Price Performance

Shares of NASDAQ SSRM opened at $26.45 on Friday. Silver Standard Resources has a 1 year low of $8.65 and a 1 year high of $33.49. The stock has a market capitalization of $5.73 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.43 and a beta of -0.18. The company’s 50-day moving average is $27.28 and its 200 day moving average is $24.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.08 and a quick ratio of 1.25.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, February 17th. The basic materials company reported $0.88 EPS for the quarter, topping the consensus estimate 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 net margin of 24.28% and a return on equity of 10.40%. On average, sell-side analysts expect that Silver Standard Resources will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake 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 buying an additional 529,035 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 worth $4,113,000 after acquiring an additional 201,525 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Silver Standard Resources by 461.5% during the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock valued at $863,000 after acquiring an additional 70,726 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Silver Standard Resources during the first quarter valued at $50,000. Institutional investors 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.