Silver Standard Resources (NASDAQ:SSRM) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded Silver Standard Resources (NASDAQ:SSRM) from a "strong‑buy" to a "buy" rating in its latest research note.
• Despite the downgrade, analysts' consensus remains a "Buy" (1 Strong Buy, 8 Buy, 1 Hold) with an average price target of $37.25.
• Silver Standard beat expectations last quarter with EPS of $0.88 vs. $0.59 estimated and revenue of $521.7M vs. $436.2M, while shares trade around $31.75 and the company has a market cap of $6.87B.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. TD Cowen raised shares of Silver Standard Resources from a "hold" rating to a "buy" rating in a report on Thursday, January 22nd. Canadian Imperial Bank of Commerce raised shares of Silver Standard Resources from a "neutral" rating to a "sector outperform" rating and set a $48.00 price objective for the company in a report on Thursday, March 12th. BMO Capital Markets raised shares of Silver Standard Resources from a "market perform" rating to an "outperform" rating and set a $41.00 price objective for the company in a report on Thursday, March 5th. Finally, Weiss Ratings raised shares of Silver Standard Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $37.25.

Silver Standard Resources Trading Up 1.9%

Shares of SSRM opened at $31.75 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.08 and a quick ratio of 1.25. Silver Standard Resources has a 1 year low of $9.88 and a 1 year high of $36.51. The company has a 50 day simple moving average of $29.31 and a two-hundred day simple moving average of $25.03. The firm has a market cap of $6.87 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 0.51 and a beta of -0.11.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its quarterly earnings data on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.29. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%. The business had revenue of $521.73 million during the quarter, compared to analyst estimates of $436.23 million. On average, equities analysts expect that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Silver Standard Resources

A number of institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in Silver Standard Resources in the first quarter worth $50,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 worth $4,113,000 after buying an additional 201,525 shares during the last quarter. Goldman Sachs Group Inc. lifted 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 worth $24,895,000 after buying an additional 529,035 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in 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 worth $863,000 after buying an additional 70,726 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors.

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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