Analysts Set Silver Standard Resources Inc. (NASDAQ:SSRM) PT at $41.60

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $41.60.

A number of analysts have recently commented on the company. Weiss Ratings lowered Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada dropped their price objective on shares of Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. UBS Group cut their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Bank of America dropped their price target on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th.

Silver Standard Resources Trading Up 8.6%

SSRM opened at $27.21 on Friday. The company has a market cap of $5.62 billion, a P/E ratio of 25.91, a PEG ratio of 5.15 and a beta of -0.10. The company has a current ratio of 5.33, a quick ratio of 4.57 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $29.18 and its 200-day moving average is $28.43. Silver Standard Resources has a 1-year low of $11.86 and a 1-year high of $36.51.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.34. The firm had revenue of $418.46 million for the quarter, compared to analyst estimates of $524.79 million. Silver Standard Resources had a net margin of 12.17% and a return on equity of 14.87%. Equities research analysts predict that Silver Standard Resources will post 3.92 earnings per share for the current fiscal year.

Institutional Trading of Silver Standard Resources

Several institutional investors have recently added to or reduced their stakes in SSRM. Strs Ohio bought a new position in Silver Standard Resources during the 1st quarter worth approximately $50,000. AQR Capital Management LLC boosted its stake 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 purchasing an additional 70,726 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Silver Standard Resources by 96.6% during 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 buying an additional 201,525 shares during the period. Finally, Goldman Sachs Group Inc. increased its position 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 worth $24,895,000 after buying an additional 529,035 shares during the period. 68.30% of the stock is currently owned by institutional investors.

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.