Silver Standard Resources Inc. (NASDAQ:SSRM) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Silver Standard Resources Inc. (NASDAQ:SSRM) has received an average rating of "Hold" from seven analysts, with a 12-month target price of $13.55.
• In Q2, the company reported earnings of $0.51 EPS, exceeding estimates, and achieved revenues of $410.54 million, outperforming the expected $381.08 million.
• Institutional investors own 68.30% of Silver Standard Resources' stock, indicating strong interest from major financial players.

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have been assigned an average recommendation of "Hold" from the seven ratings firms that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have covered the stock in the last year is $13.55.

Several equities analysts recently commented on SSRM shares. UBS Group downgraded shares of Silver Standard Resources from a "buy" rating to a "neutral" rating and upped their price target for the company from $18.95 to $22.95 in a research note on Friday. BMO Capital Markets assumed coverage on Silver Standard Resources in a research report on Friday, July 18th. They issued a "market perform" rating and a $13.50 price objective for the company. Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, Zacks Research downgraded Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th.

Silver Standard Resources Stock Performance

SSRM stock traded up $0.36 during midday trading on Friday, hitting $23.20. 4,051,467 shares of the stock traded hands, compared to its average volume of 2,862,773. Silver Standard Resources has a 1-year low of $5.06 and a 1-year high of $23.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 1.20. The firm has a market cap of $4.70 billion, a P/E ratio of 29.74 and a beta of -0.08. The stock's fifty day simple moving average is $16.68 and its 200-day simple moving average is $13.18.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.28. The business had revenue of $410.54 million during the quarter, compared to analysts' expectations of $381.08 million. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%. On average, analysts expect that Silver Standard Resources will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On Silver Standard Resources

Institutional investors have recently added to or reduced their stakes in the stock. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of Silver Standard Resources in the fourth quarter worth approximately $156,000. Quantinno Capital Management LP lifted its stake in shares of Silver Standard Resources by 59.0% in the fourth quarter. Quantinno Capital Management LP now owns 49,451 shares of the basic materials company's stock worth $344,000 after buying an additional 18,344 shares during the last quarter. ProShare Advisors LLC increased its holdings in Silver Standard Resources by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 57,154 shares of the basic materials company's stock valued at $398,000 after buying an additional 18,806 shares during the period. State of Wyoming acquired a new stake in shares of Silver Standard Resources in the fourth quarter valued at $195,000. Finally, Vident Advisory LLC boosted its position in shares of Silver Standard Resources by 38.6% in the 4th quarter. Vident Advisory LLC now owns 49,875 shares of the basic materials company's stock worth $347,000 after purchasing an additional 13,895 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company's stock.

Silver Standard Resources Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.