Silver Standard Resources (NASDAQ:SSRM) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Shares crossed above the 200-day moving average: SSRM traded as high as $35.66 and last traded at $35.44, above its 200-day average of $31.45.
• Analysts remain broadly bullish: The stock has an average “Buy” rating and a consensus price target of $42.80, with several firms recently raising their targets.
• Quarterly results slightly missed expectations: SSRM reported $0.66 in EPS versus $0.67 expected and revenue of $443.8 million versus $483.84 million expected. The company also paid a quarterly dividend of C$0.03 per share, yielding approximately 0.3%.

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO's share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $31.45 and traded as high as $35.66. Silver Standard Resources shares last traded at $35.44, with a volume of 1,219,735 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Royal Bank Of Canada raised their target price on Silver Standard Resources from $39.00 to $43.00 and gave the company an "outperform" rating in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce upped their price target on Silver Standard Resources from $48.00 to $50.00 and gave the stock an "outperformer" rating in a research note on Monday, October 5th. Bank of America lowered their price objective on Silver Standard Resources from $41.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Weiss Ratings raised Silver Standard Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Finally, Wall Street Zen lowered Silver Standard Resources from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $42.80.

Silver Standard Resources Trading Down 0.2%

The company's fifty day moving average is $34.96 and its 200-day moving average is $31.45. The firm has a market capitalization of $7.14 billion, a P/E ratio of 32.22, a P/E/G ratio of 7.41 and a beta of -0.10.

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

Silver Standard Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were issued a dividend of C$0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, August 14th. Silver Standard Resources's dividend payout ratio is 10.91%.

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.

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