Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Average Rating of "Hold" from Analysts

Key Points

• Silver Standard Resources Inc. has an average analyst rating of "Hold", with seven analysts recommending hold while one analyst suggested a strong buy. The average 12-month target price for the stock is $18.24.
• Recently, the company reported earnings of $0.51 per share, surpassing the consensus estimate of $0.23, and generated $410.54 million in revenue for the quarter.
• Institutional investors own 68.30% of Silver Standard Resources' stock, indicating a strong presence in major investment sectors.

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have been given an average recommendation of "Hold" by the eight ratings firms that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.2375.

Several equities research analysts have recently issued reports on SSRM shares. Wall Street Zen raised shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. 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 upgraded Silver Standard Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 30th. UBS Group downgraded Silver Standard Resources from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $18.95 to $22.95 in a report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Silver Standard Resources in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Silver Standard Resources

Several hedge funds have recently modified their holdings of the stock. Bleakley Financial Group LLC grew its holdings in shares of 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 acquiring an additional 1,005 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Silver Standard Resources by 3.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company's stock valued at $289,000 after purchasing an additional 1,089 shares in the last quarter. Cadence Wealth Management LLC grew its stake in Silver Standard Resources by 2.8% in the first quarter. Cadence Wealth Management LLC now owns 50,290 shares of the basic materials company's stock valued at $504,000 after purchasing an additional 1,374 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Silver Standard Resources by 1.1% in the first quarter. Hsbc Holdings PLC now owns 206,667 shares of the basic materials company's stock valued at $2,098,000 after buying an additional 2,174 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Silver Standard Resources by 19.4% in the first quarter. Principal Financial Group Inc. now owns 13,453 shares of the basic materials company's stock valued at $135,000 after buying an additional 2,190 shares in the last quarter. Institutional investors own 68.30% of the company's stock.

Silver Standard Resources Price Performance

SSRM opened at $23.60 on Wednesday. Silver Standard Resources has a 12 month low of $5.06 and a 12 month high of $25.09. The company has a fifty day simple moving average of $20.44 and a 200 day simple moving average of $14.67. The stock has a market cap of $4.79 billion, a P/E ratio of 30.26 and a beta of -0.09. The company has a quick ratio of 1.20, a current ratio of 2.39 and a debt-to-equity ratio of 0.03.

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 (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.28. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%.The company had revenue of $410.54 million during the quarter, compared to the consensus estimate of $381.08 million. On average, research 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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