Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $38.20.

Several analysts recently commented on the company. Canadian Imperial Bank of Commerce raised Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price target on the stock in a research note on Thursday, March 12th. Weiss Ratings downgraded Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. Wall Street Zen upgraded Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. National Bank Financial upgraded Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 4th. Finally, Royal Bank Of Canada upgraded Silver Standard Resources from a “sector perform” rating to an “outperform” rating and cut their price objective for the company from $45.00 to $40.00 in a research report on Wednesday, June 3rd.

Hedge Funds Weigh In On Silver Standard Resources

Several large investors have recently made changes to their positions in SSRM. Strs Ohio acquired a new position in shares of Silver Standard Resources during the first quarter valued at $50,000. AQR Capital Management LLC lifted its stake 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 valued at $4,113,000 after acquiring an additional 201,525 shares during the period. Finally, Goldman Sachs Group Inc. lifted 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 acquiring an additional 529,035 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

Silver Standard Resources Price Performance

Shares of SSRM stock opened at $30.95 on Monday. The stock’s fifty day simple moving average is $30.52 and its 200 day simple moving average is $27.45. 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 firm has a market cap of $6.42 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 0.38 and a beta of -0.14. Silver Standard Resources has a one year low of $11.70 and a one year high of $36.51.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.81 by $0.34. The business had revenue of $581.78 million for the quarter, compared to analyst estimates of $524.80 million. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%. On average, analysts expect that Silver Standard Resources will post 4.49 earnings per share for the current fiscal 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.