UBS Group Has Lowered Expectations for Silver Standard Resources (NASDAQ:SSRM) Stock Price

Key Points

• UBS Group lowered its price target for Silver Standard Resources from $41 to $39 but maintained a “buy” rating, implying 28.4% upside from the prior close.
• Analyst sentiment remains positive overall, with the stock carrying an average “Buy” rating and a consensus price target of $42.60.
• Shares fell 8.2% to $30.37, while the company’s latest quarterly results slightly missed expectations on both earnings and revenue.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO had its target price lowered by investment analysts at UBS Group from $41.00 to $39.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. UBS Group's target price would indicate a potential upside of 28.40% from the company's previous close.

A number of other research firms also recently commented on SSRM. Royal Bank Of Canada boosted their price objective 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. Bank of America lowered their target price 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. Weiss Ratings raised shares of Silver Standard Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. Canadian Imperial Bank of Commerce lifted their price target on shares of Silver Standard Resources from $48.00 to $50.00 and gave the company an "outperformer" rating in a research report on Monday, October 5th. Finally, Wall Street Zen lowered Silver Standard Resources from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Silver Standard Resources currently has an average rating of "Buy" and an average price target of $42.60.

Silver Standard Resources Trading Down 8.2%

Shares of Silver Standard Resources stock traded down $2.73 on Wednesday, reaching $30.37. 2,117,958 shares of the stock were exchanged, compared to its average volume of 3,392,443. The firm has a market capitalization of $6.12 billion, a PE ratio of 27.64, a PEG ratio of 7.39 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. The business has a fifty day moving average price of $35.09 and a two-hundred day moving average price of $31.49.

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 EPS for the quarter, missing analysts' consensus estimates 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 firm 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 3.87 EPS for the current year.

About Silver Standard Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.