Analysts Set Silver Standard Resources Inc. (NASDAQ:SSRM) PT at $11.28

Key Points

• Silver Standard Resources Inc. (NASDAQ:SSRM) received an average rating of "Hold" from six analysts, with an average target price of $11.28.
• Recent analyst updates include a moderate buy rating from Cormark and an upgrade to strong-buy by Wall Street Zen.
• The company reported a EPS of $0.29, exceeding estimates, with revenue of $303.43 million for the last quarter.

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have received an average recommendation of "Hold" from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $11.2750.

SSRM has been the subject of several research reports. UBS Group reiterated a "neutral" rating and set a $13.85 price target (up from $12.35) on shares of Silver Standard Resources in a report on Tuesday, June 24th. BMO Capital Markets began 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 target price for the company. Cormark raised Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, National Bankshares reissued a "sector perform" rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd.

Institutional Trading of Silver Standard Resources

Several institutional investors and hedge funds have recently modified their holdings of SSRM. Caitong International Asset Management Co. Ltd bought a new position in Silver Standard Resources during the first quarter valued at $32,000. Tacita Capital Inc bought a new stake in shares of Silver Standard Resources during the 1st quarter valued at about $48,000. Strs Ohio bought a new stake in shares of Silver Standard Resources during the 1st quarter valued at about $50,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Silver Standard Resources in the 1st quarter worth about $72,000. Finally, Tower Research Capital LLC TRC boosted 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 purchasing an additional 8,872 shares in the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

Silver Standard Resources Stock Performance

Shares of SSRM traded up $0.33 during trading hours on Friday, reaching $12.90. 2,175,359 shares of the company's stock traded hands, compared to its average volume of 2,587,429. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 31.45 and a beta of -0.16. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.95 and a quick ratio of 1.85. Silver Standard Resources has a twelve month low of $4.32 and a twelve month high of $13.48. The business's fifty day simple moving average is $12.50 and its two-hundred day simple moving average is $10.86.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.21. Silver Standard Resources had a return on equity of 2.44% and a net margin of 7.82%. The firm had revenue of $303.43 million for the quarter, compared to analyst estimates of $332.64 million. Analysts predict that Silver Standard Resources will post 0.73 earnings per share 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.