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

Key Points

• Silver Standard Resources Inc. has received an average rating of "Hold" from seven research firms, with one strong buy and one buy recommendation.
• The stock opened at $17.52 and has a projected average price target of $12.55 over the next twelve months, with a market cap of $3.55 billion.
• In its most recent quarter, Silver Standard reported earnings of $0.51 per share, surpassing the consensus estimate by $0.28, alongside revenues reaching $410.54 million.

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have been given an average rating of "Hold" by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $12.55.

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Zacks Research raised shares of Silver Standard Resources to a "strong-buy" rating in a research note on Monday, August 11th. BMO Capital Markets assumed coverage on shares of Silver Standard Resources in a research note on Friday, July 18th. They issued a "market perform" rating and a $13.50 price target for the company. Finally, UBS Group raised shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and increased their price target for the company from $13.85 to $18.95 in a research note on Friday, August 15th.

Hedge Funds Weigh In On Silver Standard Resources

Several large investors have recently made changes to their positions in SSRM. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of Silver Standard Resources in the 4th quarter worth approximately $156,000. MetLife Investment Management LLC lifted its holdings in shares of Silver Standard Resources by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 125,405 shares of the basic materials company's stock worth $873,000 after acquiring an additional 6,763 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Silver Standard Resources by 187.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company's stock worth $95,000 after acquiring an additional 8,872 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Silver Standard Resources by 533.2% in the 4th quarter. Hsbc Holdings PLC now owns 204,493 shares of the basic materials company's stock worth $1,420,000 after acquiring an additional 172,196 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Silver Standard Resources by 21.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,505 shares of the basic materials company's stock worth $568,000 after acquiring an additional 14,601 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Silver Standard Resources Stock Performance

Silver Standard Resources stock opened at $17.52 on Tuesday. The firm has a 50 day simple moving average of $13.62 and a 200-day simple moving average of $11.72. Silver Standard Resources has a 1-year low of $4.82 and a 1-year high of $17.63. 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 $3.55 billion, a price-to-earnings ratio of 22.46 and a beta of -0.16.

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

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.

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