Silver Standard Resources (NASDAQ:SSRM) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a strong-buy rating in a report published on Saturday.

Several other brokerages also recently issued reports on SSRM. National Bank Financial upgraded shares of Silver Standard Resources to a “hold” rating in a research report on Friday, March 21st. National Bankshares reiterated a “sector perform” rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. UBS Group lifted their price target on shares of Silver Standard Resources from $12.10 to $12.35 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, Cormark upgraded shares of Silver Standard Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.03.

Silver Standard Resources Stock Performance

Shares of Silver Standard Resources stock opened at $12.74 on Friday. The company has a market capitalization of $2.58 billion, a PE ratio of 31.07 and a beta of -0.13. Silver Standard Resources has a 12 month low of $4.32 and a 12 month high of $13.46. The company has a current ratio of 3.95, a quick ratio of 1.85 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $11.41 and its 200 day simple moving average is $9.71.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.21. Silver Standard Resources had a return on equity of 2.44% and a net margin of 7.82%. The firm had revenue of $303.43 million for the quarter, compared to the consensus estimate of $332.64 million. On average, research analysts predict that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in Silver Standard Resources during the first quarter valued at approximately $50,000. Belpointe Asset Management LLC bought a new stake in shares of Silver Standard Resources during the first quarter worth $206,000. Bayforest Capital Ltd bought a new stake in shares of Silver Standard Resources during the first quarter worth $147,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 last quarter. Finally, Goldman Sachs Group Inc. grew 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 worth $24,895,000 after buying an additional 529,035 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

About Silver Standard Resources

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.