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

Wall Street Zen cut shares of Silver Standard Resources (NASDAQ:SSRM - Free Report) TSE: SSO from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Several other analysts have also issued reports on SSRM. Cormark upgraded shares of Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. UBS Group reiterated a "neutral" rating and set a $13.85 target price (up previously from $12.35) on shares of Silver Standard Resources in a research report on Tuesday, June 24th. National Bank Financial upgraded shares of Silver Standard Resources to a "hold" rating in a research report on Friday, March 21st. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Silver Standard Resources in a research note on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.53.

Silver Standard Resources Price Performance

SSRM stock traded up $0.14 during mid-day trading on Friday, hitting $12.86. The stock had a trading volume of 1,419,209 shares, compared to its average volume of 2,479,402. The company has a current ratio of 3.95, a quick ratio of 1.85 and a debt-to-equity ratio of 0.08. Silver Standard Resources has a 52 week low of $4.32 and a 52 week high of $13.48. The firm has a market capitalization of $2.61 billion, a P/E ratio of 31.33 and a beta of -0.12. The firm has a fifty day simple moving average of $12.08 and a 200 day simple moving average of $10.31.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly 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 net margin of 7.82% and a return on equity of 2.44%. The firm had revenue of $303.43 million for the quarter, compared to the consensus estimate of $332.64 million. As a group, research analysts forecast that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Several large investors have recently bought and sold shares of SSRM. Deutsche Bank AG lifted its holdings in Silver Standard Resources by 23.5% in the 4th quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company's stock worth $2,530,000 after purchasing an additional 69,124 shares in the last quarter. RFG Advisory LLC purchased a new stake in shares of Silver Standard Resources during the 1st quarter worth approximately $206,000. JPMorgan Chase & Co. raised its holdings in shares of Silver Standard Resources by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock worth $13,351,000 after acquiring an additional 370,006 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Silver Standard Resources by 99.3% during the 4th quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company's stock worth $3,528,000 after acquiring an additional 252,293 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Silver Standard Resources by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,378,659 shares of the basic materials company's stock worth $9,614,000 after acquiring an additional 51,408 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors.

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.