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

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

A number of other equities analysts have also weighed in on SSRM. UBS Group reissued a "neutral" rating and issued a $13.85 price objective (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 report on Friday, March 21st. National Bankshares restated a "sector perform" rating on shares of Silver Standard Resources in a report on Wednesday, April 23rd. Finally, Cormark upgraded shares of Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $10.53.

Silver Standard Resources Stock Performance

NASDAQ:SSRM opened at $12.66 on Friday. The firm has a 50 day simple moving average of $12.08 and a 200-day simple moving average of $10.27. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.95 and a quick ratio of 1.85. The firm has a market cap of $2.57 billion, a PE ratio of 30.88 and a beta of -0.12. Silver Standard Resources has a 1-year low of $4.32 and a 1-year high of $13.48.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last posted its quarterly earnings data on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.21. The business had revenue of $303.43 million during the quarter, compared to analyst estimates of $332.64 million. Silver Standard Resources had a net margin of 7.82% and a return on equity of 2.44%. On average, equities analysts expect that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Several institutional investors have recently bought and sold shares of SSRM. US Bancorp DE boosted its stake in shares of Silver Standard Resources by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 1,360 shares during the period. Allianz SE bought a new position in shares of Silver Standard Resources during the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd bought a new position in Silver Standard Resources in the 1st quarter valued at about $32,000. Tacita Capital Inc bought a new position in Silver Standard Resources in the 1st quarter valued at about $48,000. Finally, Strs Ohio bought a new position in shares of Silver Standard Resources during the 1st quarter valued at about $50,000. 68.30% of the stock is currently owned by hedge funds and other 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.

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