Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Eight of 11 analysts rate SSRM a buy, one rates it a strong buy, and two recommend holding. The average 12-month price target is $41.60.
• Institutional ownership is substantial: Institutional investors and hedge funds own 68.3% of the stock, with notable position increases from AQR Capital, UBS Asset Management, and Goldman Sachs.
• Recent results slightly missed expectations: The company reported quarterly EPS of $0.66 versus a $0.67 consensus and revenue of $443.8 million versus estimates of $483.84 million. It also announced a quarterly dividend of $0.03 per share, yielding approximately 0.3% annually.

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO has earned a consensus rating of "Moderate Buy" from the eleven brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $41.60.

A number of analysts have commented on the company. Zacks Research downgraded Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 29th. Weiss Ratings upgraded Silver Standard Resources from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Wall Street Zen lowered Silver Standard Resources from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Bank of America reduced their target price on 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. Finally, UBS Group decreased their price target on shares of Silver Standard Resources from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th.

Institutional Trading of Silver Standard Resources

Several institutional investors have recently made changes to their positions in SSRM. Strs Ohio bought a new stake in Silver Standard Resources in the first quarter valued at about $50,000. AQR Capital Management LLC lifted 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 purchasing an additional 70,726 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Silver Standard Resources by 96.6% during the first 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 purchasing an additional 201,525 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Silver Standard Resources by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company's stock valued at $24,895,000 after purchasing an additional 529,035 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Silver Standard Resources Stock Performance

Shares of SSRM opened at $37.15 on Friday. The company has a 50-day simple moving average of $30.96 and a 200-day simple moving average of $30.25. 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 $7.58 billion, a P/E ratio of 33.77, a P/E/G ratio of 8.11 and a beta of -0.04.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its earnings results on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $443.80 million for the quarter, compared to analyst estimates of $483.84 million. As a group, equities analysts forecast that Silver Standard Resources will post 3.87 earnings per share for the current year.

Silver Standard Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. Silver Standard Resources's dividend payout ratio (DPR) is presently 10.91%.

About Silver Standard Resources

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.

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