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

Key Points

• Analysts have a consensus "Buy" on Silver Standard Resources (10 analysts: 8 buy, 2 strong buy) with an average 12‑month price target of $37.25 and several recent upgrades from firms including CIBC, TD Cowen and TD Securities.
• Large institutional buyers have been increasing positions—AQR, UBS Asset Management and Goldman Sachs notably expanded stakes—and institutions/hedge funds now own about 68.3% of the stock.
• The company recently reported a strong quarter (EPS $0.88 vs. $0.59 est., revenue $521.7M vs. $436.2M), and the shares trade around $29.19 with a market cap of $6.32B and a P/E of 15.78.

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have earned a consensus rating of "Buy" from the ten ratings firms that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.25.

A number of research analysts recently commented on the company. Canadian Imperial Bank of Commerce upgraded Silver Standard Resources from a "neutral" rating to a "sector outperform" rating and set a $48.00 target price for the company in a research note on Thursday, March 12th. TD Cowen upgraded Silver Standard Resources from a "hold" rating to a "buy" rating in a research note on Thursday, January 22nd. National Bank Financial upgraded Silver Standard Resources from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, March 4th. TD Securities upgraded Silver Standard Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Silver Standard Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Strs Ohio acquired a new position in shares of Silver Standard Resources in the first quarter valued at $50,000. AQR Capital Management LLC raised 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 purchasing an additional 70,726 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 purchasing an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in 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 acquiring an additional 529,035 shares during the period. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Silver Standard Resources Stock Up 1.3%

Shares of SSRM stock opened at $29.19 on Friday. Silver Standard Resources has a 12 month low of $9.88 and a 12 month high of $36.51. The firm has a market cap of $6.32 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.48 and a beta of -0.17. The stock has a 50 day moving average of $29.83 and a 200-day moving average of $25.45. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.03.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results 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. Silver Standard Resources had a return on equity of 10.40% and a net margin of 24.28%.The company had revenue of $521.73 million during the quarter, compared to analyst estimates of $436.23 million. On average, equities analysts predict that Silver Standard Resources will post 3.93 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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