Silver Standard Resources Inc. (NASDAQ:SSRM) Given Average Rating of “Buy” by Brokerages

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have earned an average rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $37.75.

Several equities research analysts recently weighed in on the company. BMO Capital Markets raised Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a report on Thursday, March 5th. UBS Group lifted their price objective on Silver Standard Resources from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Canadian Imperial Bank of Commerce raised Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price objective for the company in a report on Thursday, March 12th. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Zacks Research raised Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in Silver Standard Resources during the 1st quarter valued at about $50,000. AQR Capital Management LLC grew 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 worth $863,000 after purchasing an additional 70,726 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 purchasing an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings 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 purchasing an additional 529,035 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Trading Down 4.5%

NASDAQ SSRM opened at $29.82 on Thursday. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 0.40 and a beta of -0.14. Silver Standard Resources has a one year low of $11.67 and a one year high of $36.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.33 and a quick ratio of 4.57. The business’s fifty day moving average is $30.50 and its 200-day moving average is $26.76.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.34. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%.The company had revenue of $581.78 million for the quarter, compared to analysts’ expectations of $524.80 million. Equities research analysts predict that Silver Standard Resources will post 4.38 EPS for the current year.

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.