Silver Standard Resources (NASDAQ:SSRM) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded Silver Standard Resources to “strong sell” from “hold,” despite the broader analyst consensus remaining “moderate buy” with an average price target of $42.60.
• Analyst opinions are mixed: several firms maintain buy or outperform ratings, while Wall Street Zen recently lowered its view to “hold.”
• The stock opened at $31.27, below its 50-day moving average of $35.17; the company’s latest quarter also fell slightly short of earnings and revenue expectations.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday, Zacks reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Silver Standard Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 9th. Bank of America decreased their price objective on shares of Silver Standard Resources from $41.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce lifted their target price on shares of Silver Standard Resources from $48.00 to $50.00 and gave the company an "outperformer" rating in a research note on Monday, October 5th. Wall Street Zen cut shares of Silver Standard Resources from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Royal Bank Of Canada upped their target price on shares of Silver Standard Resources from $39.00 to $43.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Silver Standard Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.60.

Silver Standard Resources Stock Performance

NASDAQ:SSRM opened at $31.27 on Monday. The stock has a 50-day simple moving average of $35.17 and a two-hundred day simple moving average of $31.63. Silver Standard Resources has a 52-week low of $18.19 and a 52-week high of $39.44. The firm has a market capitalization of $6.30 billion, a PE ratio of 10.46, a P/E/G ratio of 7.81 and a beta of -0.10.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Silver Standard Resources had a return on equity of 16.17% and a net margin of 12.30%. The company had revenue of $443.80 million during the quarter, compared to the consensus estimate of $483.84 million. Equities analysts forecast that Silver Standard Resources will post 3.25 earnings per share for the current fiscal year.

About Silver Standard Resources

Silver Standard Resources, now known as SSR Mining Inc NASDAQ: SSRM, is a precious metals mining company focused primarily on the exploration, development and production of gold and silver. The company's operations have included open-pit and underground mines, processing facilities and exploration properties in the Americas and Türkiye.

SSR Mining has historically operated the Marigold gold mine in Nevada, the Seabee gold operation in Saskatchewan, Canada, and the Puna silver-lead-zinc complex in Jujuy, Argentina.

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