Silver Standard Resources (NASDAQ:SSRM) Shares Gap Down - Time to Sell?

Key Points

• SSRM shares gapped down from a prior close of $35.68 to open at $33.64, later trading near $34.35.
• Analyst sentiment remains broadly positive: the stock has a “Moderate Buy” consensus rating and a $42.40 average price target, despite some target-price reductions.
• The company slightly missed quarterly earnings and revenue estimates, reporting $0.66 in EPS and $443.8 million in revenue. It also paid a quarterly dividend of C$0.03 per share, representing a 0.4% yield.

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO gapped down prior to trading on Monday. The stock had previously closed at $35.68, but opened at $33.64. Silver Standard Resources shares last traded at $34.3490, with a volume of 207,344 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group lowered their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Wall Street Zen cut 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 price target on 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. Royal Bank Of Canada raised their price objective on Silver Standard Resources from $39.00 to $43.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. Finally, Weiss Ratings raised Silver Standard Resources from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.40.

Silver Standard Resources Stock Performance

The stock has a market capitalization of $6.88 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 7.44 and a beta of -0.04. The firm's fifty day simple moving average is $33.30 and its 200 day simple moving average is $30.91.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its earnings results on Tuesday, August 4th. The basic materials company reported $0.66 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 firm had revenue of $443.80 million during the quarter, compared to analyst estimates of $483.84 million. Analysts anticipate that Silver Standard Resources Inc. will post 3.87 earnings per share for the current fiscal year.

Silver Standard Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were given a dividend of C$0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, August 14th. Silver Standard Resources's payout ratio is currently 10.91%.

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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