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

Key Points

• Silver Standard Resources (NASDAQ:SSRM) has an average analyst rating of “Moderate Buy”, based on coverage from 11 analysts. The consensus price target is $41.60, with eight buy ratings, two hold ratings, and one strong buy.
• Recent analyst updates were mixed but mostly positive, including price target cuts from Bank of America, UBS, and RBC, alongside an upgrade from Wall Street Zen to strong-buy. Weiss Ratings, however, lowered its rating on the stock.
• The company recently reported Q1 EPS of $1.15, beating estimates of $0.81, though revenue came in below expectations at $418.46 million. Shares were trading down about 5% in the article, and institutional ownership remains high at 68.3%.

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have received an average recommendation of "Moderate Buy" from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $41.60.

Several analysts recently issued reports on the company. Bank of America lowered their price target on Silver Standard Resources from $41.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Wall Street Zen upgraded Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. UBS Group dropped their target price on Silver Standard Resources from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Weiss Ratings lowered Silver Standard Resources from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday. Finally, Royal Bank Of Canada decreased their price target on Silver Standard Resources from $40.00 to $39.00 and set an "outperform" rating for the company in a report on Thursday, July 9th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SSRM. Strs Ohio purchased a new position in Silver Standard Resources in the first quarter valued at about $50,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Silver Standard Resources by 96.6% during the 1st 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 worth $4,113,000 after purchasing an additional 201,525 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Silver Standard Resources by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company's stock valued at $24,895,000 after purchasing an additional 529,035 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Silver Standard Resources by 461.5% in the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company's stock valued at $863,000 after purchasing an additional 70,726 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company's stock.

Silver Standard Resources Trading Down 5.0%

Shares of SSRM stock opened at $25.89 on Friday. The company has a quick ratio of 4.57, a current ratio of 5.33 and a debt-to-equity ratio of 0.01. Silver Standard Resources has a fifty-two week low of $11.70 and a fifty-two week high of $36.51. The firm's 50 day moving average price is $29.71 and its two-hundred day moving average price is $28.34. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 2.47 and a beta of -0.10.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.34. The business had revenue of $418.46 million for the quarter, compared to the consensus estimate of $524.79 million. Silver Standard Resources had a net margin of 12.17% and a return on equity of 14.87%. On average, analysts anticipate that Silver Standard Resources will post 3.81 EPS 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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