Silver Standard Resources Inc. (NASDAQ:SSRM) Receives $13.55 Consensus Price Target from Analysts

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.

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO has earned a consensus recommendation of "Hold" from the seven analysts that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.55.

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

Silver Standard Resources Price Performance

Shares of SSRM stock traded up $0.37 during trading hours on Friday, hitting $23.57. 1,249,368 shares of the company's stock were exchanged, compared to its average volume of 2,862,656. The stock's 50-day moving average is $16.89 and its 200-day moving average is $13.27. 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 stock has a market cap of $4.78 billion, a price-to-earnings ratio of 30.19 and a beta of -0.08. Silver Standard Resources has a 52 week low of $5.06 and a 52 week high of $23.71.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its earnings results on Tuesday, August 5th. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.23 by $0.28. The company had revenue of $410.54 million for 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%. As a group, research analysts forecast that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Silver Standard Resources

A number of hedge funds have recently modified their holdings of SSRM. Bleakley Financial Group LLC raised its position in Silver Standard Resources by 3.9% in the 1st quarter. Bleakley Financial Group LLC now owns 26,466 shares of the basic materials company's stock valued at $265,000 after buying an additional 1,005 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Silver Standard Resources by 3.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company's stock valued at $289,000 after buying an additional 1,089 shares during the last quarter. Cadence Wealth Management LLC raised its position in Silver Standard Resources by 2.8% in the 1st quarter. Cadence Wealth Management LLC now owns 50,290 shares of the basic materials company's stock valued at $504,000 after buying an additional 1,374 shares during the last quarter. Wellington Management Group LLP raised its position in Silver Standard Resources by 0.4% in the 4th quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company's stock valued at $3,462,000 after buying an additional 1,884 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in Silver Standard Resources by 10.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 22,000 shares of the basic materials company's stock valued at $153,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company's stock.

About Silver Standard Resources

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.