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

Key Points

• Silver Standard Resources (NASDAQ:SSRM) has an average analyst recommendation of Buy from 10 firms (8 buy, 1 strong buy, 1 hold) with an average 12‑month price target of $37.25.
• Major institutions have been accumulating shares—Goldman Sachs +27.1%, UBS +96.6%, AQR +461.5%—and institutional investors now own about 68.3% of the company.
• SSRM beat quarterly estimates with an EPS of $0.88 (vs. $0.59 est.) and revenue of $521.7M, and it trades near its 12‑month high with a market cap of $7.06B and a P/E of 17.6.

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO has received an average recommendation of "Buy" from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $37.25.

SSRM has been the subject of a number of recent research reports. TD Cowen upgraded Silver Standard Resources from a "hold" rating to a "buy" rating in a research note on Thursday, January 22nd. Weiss Ratings upgraded Silver Standard Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 2nd. TD Securities upgraded Silver Standard Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 22nd. Bank of America upgraded Silver Standard Resources from an "underperform" rating to a "buy" rating in a research note on Wednesday, March 4th. Finally, BMO Capital Markets upgraded Silver Standard Resources from a "market perform" rating to an "outperform" rating and set a $41.00 target price for the company in a research note on Thursday, March 5th.

Institutional Investors Weigh In On Silver Standard Resources

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in shares of Silver Standard Resources by 27.1% in 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 buying an additional 529,035 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Silver Standard Resources by 96.6% in 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 valued at $4,113,000 after buying an additional 201,525 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Silver Standard Resources by 461.5% in the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company's stock valued at $863,000 after buying an additional 70,726 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Silver Standard Resources in the first quarter valued at about $50,000. Institutional investors and hedge funds own 68.30% of the company's stock.

Silver Standard Resources Stock Performance

Silver Standard Resources stock opened at $32.59 on Wednesday. The stock's 50-day moving average is $28.02 and its 200-day moving average is $24.55. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 0.52 and a beta of -0.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.08 and a quick ratio of 1.25. Silver Standard Resources has a 12 month low of $9.14 and a 12 month high of $33.49.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings data on Tuesday, February 17th. The basic materials company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.29. The company had revenue of $521.73 million for the quarter, compared to the consensus estimate of $436.23 million. Silver Standard Resources had a return on equity of 10.40% and a net margin of 24.28%. Equities analysts anticipate that Silver Standard Resources will post 0.73 earnings per share for the current year.

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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