Silver Standard Resources (NASDAQ:SSRM) Given New $43.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Silver Standard Resources’ price target from $39 to $43 while maintaining an “outperform” rating, implying 21.71% upside from the prior close.
• Analyst sentiment is broadly positive, with one Strong Buy, eight Buy, and two Hold ratings; the consensus rating is “Moderate Buy” with an average price target of $42.40.
• Shares rose 0.3% to $35.33, but the company’s latest quarter slightly missed expectations, reporting $0.66 EPS versus $0.67 expected and revenue of $443.8 million versus $483.84 million estimated.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO had its price target hoisted by research analysts at Royal Bank Of Canada from $39.00 to $43.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the basic materials company's stock. Royal Bank Of Canada's price target suggests a potential upside of 21.71% from the stock's previous close.

Several other research firms have also weighed in on SSRM. Weiss Ratings raised shares of Silver Standard Resources from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Zacks Research downgraded Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, May 29th. Bank of America dropped their price target on Silver Standard Resources from $41.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Wall Street Zen lowered Silver Standard Resources from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Finally, UBS Group lowered their target price on Silver Standard Resources from $43.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.40.

Silver Standard Resources Trading Up 0.3%

NASDAQ:SSRM traded up $0.09 during mid-day trading on Wednesday, reaching $35.33. 1,336,463 shares of the stock were exchanged, compared to its average volume of 3,498,172. The business has a fifty day moving average price of $31.90 and a 200 day moving average price of $30.63. Silver Standard Resources has a 1-year low of $18.19 and a 1-year high of $39.44. The firm has a market capitalization of $7.20 billion, a PE ratio of 32.11, a PEG ratio of 7.26 and a beta of -0.04.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $443.80 million during the quarter, compared to analyst estimates of $483.84 million. Silver Standard Resources had a return on equity of 16.17% and a net margin of 12.30%. On average, sell-side analysts forecast that Silver Standard Resources will post 3.87 earnings per share for the current year.

About Silver Standard Resources

Silver Standard Resources Inc was a precious-metals mining company focused primarily on the exploration, development and production of silver and gold. The company also produced associated metals, including lead and zinc, from certain operations. Its assets included the Pirquitas silver mine and the Chinchillas silver-lead-zinc project in Argentina, which were combined into the Puna Operations.

Silver Standard expanded its portfolio through acquisitions, including the Marigold gold mine in Nevada and the Seabee gold operation in Saskatchewan.

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