Silver Standard Resources (NASDAQ:SSRM) Stock Rating Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Silver Standard Resources (NASDAQ:SSRM) from “Buy” to “Hold,” although the broader analyst consensus remains “Buy” with an average price target of $42.60.
• Recent analysts largely maintained positive views: UBS and Bank of America lowered their price targets while retaining “Buy” ratings, and CIBC and RBC raised their targets and assigned outperform ratings.
• SSRM opened at $31.85, below its 50-day moving average of $35.18, while its latest quarterly results slightly missed expectations, with EPS of $0.66 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 was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently commented on SSRM. 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. UBS Group cut their price objective on shares of Silver Standard Resources from $41.00 to $39.00 and set a "buy" rating for the company in a report on Wednesday. Bank of America decreased their price objective on shares of Silver Standard Resources from $41.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce increased their target price on shares of Silver Standard Resources from $48.00 to $50.00 and gave the stock an "outperformer" rating in a research note on Monday, October 5th. Finally, Royal Bank Of Canada increased their target price on shares of Silver Standard Resources from $39.00 to $43.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $42.60.

Silver Standard Resources Price Performance

NASDAQ SSRM opened at $31.85 on Friday. The company has a fifty day moving average of $35.18 and a 200 day moving average of $31.58. The company has a market capitalization of $6.42 billion, a PE ratio of 10.55, a P/E/G ratio of 6.60 and a beta of -0.10. Silver Standard Resources has a 1 year low of $18.19 and a 1 year high of $39.44.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued 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). Silver Standard Resources had a net margin of 12.30% and a return on equity of 16.17%. The company had revenue of $443.80 million during the quarter, compared to analyst estimates of $483.84 million. Research analysts expect that Silver Standard Resources will post 3.88 earnings per share for the current year.

Silver Standard Resources Company Profile

Silver Standard Resources Inc was a precious-metals mining company focused on the acquisition, development and operation of silver and gold properties. The company produced silver and gold concentrates and worked to advance exploration and development projects in the Americas and other mining jurisdictions.

In 2017, Silver Standard Resources merged with Claude Resources Inc and changed its name to SSR Mining Inc The combined company expanded its portfolio to include the Seabee gold operation in Saskatchewan, Canada, and the Marigold gold mine in Nevada, while continuing to develop and operate precious-metals assets in Latin America.

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