Silver Standard Resources (NASDAQ:SSRM) Downgraded by Wall Street Zen to “Buy”
by Scott Moore · The Cerbat GemWall Street Zen downgraded shares of Silver Standard Resources (NASDAQ:SSRM – Free Report) (TSE:SSO) from a strong-buy rating to a buy rating in a research note published on Saturday morning.
Other equities analysts have also recently issued research reports about the stock. National Bank Financial upgraded shares of Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, March 4th. Canadian Imperial Bank of Commerce raised shares of 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. BMO Capital Markets raised shares of Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Thursday, March 5th. UBS Group boosted their price target on shares of Silver Standard Resources from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Finally, TD Securities raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $37.25.
Read Our Latest Analysis on Silver Standard Resources
Silver Standard Resources Trading Up 1.9%
Shares of SSRM stock opened at $31.75 on Friday. Silver Standard Resources has a 52-week low of $9.88 and a 52-week high of $36.51. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 0.51 and a beta of -0.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.25 and a current ratio of 2.08. The firm has a fifty day moving average of $29.31 and a 200-day moving average of $25.04.
Silver Standard Resources (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.29. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%. The company had revenue of $521.73 million during the quarter, compared to analysts’ expectations of $436.23 million. On average, equities research analysts forecast that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.
Institutional Trading of Silver Standard Resources
Several large investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in Silver Standard Resources during the first quarter worth about $50,000. AQR Capital Management LLC grew its stake in 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 buying an additional 70,726 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 worth $4,113,000 after acquiring an additional 201,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Silver Standard Resources by 27.1% during 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 acquiring an additional 529,035 shares during the last quarter. 68.30% of the stock is 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.