Silver Standard Resources (NASDAQ:SSRM) Price Target Raised to $44.00 at UBS Group
by Doug Wharley · The Cerbat GemSilver Standard Resources (NASDAQ:SSRM – Get Free Report) (TSE:SSO) had its target price lifted by investment analysts at UBS Group from $43.00 to $44.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price would suggest a potential upside of 34.89% from the company’s previous close.
Several other analysts have also weighed in on the company. TD Cowen raised Silver Standard Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 22nd. Canadian Imperial Bank of Commerce raised Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 target price on the stock in a report on Thursday, March 12th. Wall Street Zen lowered Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 18th. TD Securities upgraded Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings upgraded Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $37.75.
View Our Latest Stock Report on SSRM
Silver Standard Resources Stock Up 15.5%
SSRM traded up $4.37 during trading on Wednesday, hitting $32.62. The company had a trading volume of 5,418,576 shares, compared to its average volume of 4,049,924. Silver Standard Resources has a 1-year low of $10.19 and a 1-year high of $36.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.08 and a quick ratio of 1.25. The company has a market cap of $7.06 billion, a PE ratio of 17.63, a P/E/G ratio of 0.40 and a beta of -0.17. The business has a 50-day moving average of $29.79 and a 200-day moving average of $25.49.
Silver Standard Resources (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last released its earnings results on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.29. The company had revenue of $521.73 million during the quarter, compared to the consensus estimate of $436.23 million. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%. As a group, analysts forecast that Silver Standard Resources will post 3.93 earnings per share for the current year.
Hedge Funds Weigh In On Silver Standard Resources
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 valued at $863,000 after purchasing an additional 70,726 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Silver Standard Resources by 27.1% in the 1st 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 valued at $4,113,000 after purchasing an additional 201,525 shares during the period. Finally, Strs Ohio acquired a new position in Silver Standard Resources during the 1st quarter valued at approximately $50,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.
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.