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

Key Points

• Wall Street Zen downgraded Silver Standard Resources from a “strong-buy” to a “buy,” adding to a mixed analyst backdrop that still leaves the stock with a Moderate Buy consensus rating and a $41.60 average price target.
• Several other firms recently adjusted their views, including Bank of America and UBS lowering price targets slightly, while Zacks Research and Weiss Ratings also cut their ratings. Overall, analysts remain mostly positive, with eight Buy ratings, one Strong Buy, and two Hold ratings.
• The company’s latest earnings beat expectations, reporting $1.15 EPS versus the $0.81 consensus, though revenue came in below estimates. Shares were down 1.2% in Friday trading, and the stock’s current price was $25.57.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO was downgraded by 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 also recently commented on the stock. Bank of America reduced their target price on shares of Silver Standard Resources from $41.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Zacks Research cut shares of Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, May 29th. Royal Bank Of Canada cut their price objective on shares of Silver Standard Resources from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Weiss Ratings lowered shares of Silver Standard Resources from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday. Finally, UBS Group decreased their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Silver Standard Resources has an average rating of "Moderate Buy" and a consensus price target of $41.60.

Silver Standard Resources Trading Down 1.2%

Shares of NASDAQ:SSRM opened at $25.57 on Friday. Silver Standard Resources has a 12-month low of $11.70 and a 12-month high of $36.51. The business's fifty day simple moving average is $29.54 and its 200-day simple moving average is $28.33. The company has a market capitalization of $5.28 billion, a PE ratio of 24.35, a P/E/G ratio of 2.25 and a beta of -0.10. The company has a current ratio of 5.33, a quick ratio of 4.57 and a debt-to-equity ratio of 0.01.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.34. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%.The firm had revenue of $418.46 million during the quarter, compared to analysts' expectations of $524.79 million. As a group, equities research analysts predict that Silver Standard Resources will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silver Standard Resources

Several institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Silver Standard Resources by 96.6% during 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 acquiring an additional 201,525 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Silver Standard Resources by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company's stock valued at $24,895,000 after purchasing an additional 529,035 shares during the last quarter. AQR Capital Management LLC boosted its stake in Silver Standard Resources by 461.5% in the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company's stock worth $863,000 after purchasing an additional 70,726 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Silver Standard Resources in the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 68.30% of the company's stock.

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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