Silver Standard Resources (NASDAQ:SSRM) Given New $39.00 Price Target at Royal Bank Of Canada

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its price target reduced by Royal Bank Of Canada from $40.00 to $39.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Other research analysts have also issued reports about the stock. Weiss Ratings raised shares of Silver Standard Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. UBS Group lowered their price objective on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce raised shares of Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price objective for the company in a research note on Thursday, March 12th. Wall Street Zen upgraded shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Zacks Research cut shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Silver Standard Resources presently has an average rating of “Moderate Buy” and an average target price of $41.60.

Silver Standard Resources Trading Up 3.4%

Shares of Silver Standard Resources stock opened at $29.15 on Thursday. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 0.35 and a beta of -0.10. The business has a 50-day moving average price of $29.98 and a 200-day moving average price of $28.19. The company has a quick ratio of 4.57, a current ratio of 5.33 and a debt-to-equity ratio of 0.01. Silver Standard Resources has a twelve month low of $11.70 and a twelve month high of $36.51.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.34. The business had revenue of $418.46 million during the quarter, compared to analysts’ expectations of $524.79 million. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%. Equities research analysts anticipate that Silver Standard Resources will post 4.53 EPS for the current fiscal year.

Institutional Trading of Silver Standard Resources

Several institutional investors and hedge funds have recently modified their holdings of SSRM. Goldman Sachs Group Inc. increased its stake in shares of 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 period. 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 acquiring an additional 201,525 shares in the last quarter. AQR Capital Management LLC increased its position 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 worth $863,000 after purchasing an additional 70,726 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Silver Standard Resources in the first quarter valued at about $50,000. Institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Company Profile

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.