Silver Standard Resources (NASDAQ:SSRM) Downgraded by UBS Group to "Neutral"

Key Points

• Silver Standard Resources has been downgraded by UBS Group from a "buy" rating to a "neutral" rating, setting a price target of $22.95, indicating a potential upside of 5.28% from the current price.
• Other brokerages like BMO Capital Markets and Zacks Research have also provided ratings, with the company currently holding a consensus rating of "Hold" and a price target of $13.55.
• The company reported an earnings per share (EPS) of $0.51 for the last quarter, surpassing the consensus estimate of $0.23, while its revenue was also above expectations at $410.54 million.

UBS Group downgraded shares of Silver Standard Resources (NASDAQ:SSRM - Free Report) TSE: SSO from a buy rating to a neutral rating in a report released on Friday, MarketBeat Ratings reports. They currently have $22.95 target price on the basic materials company's stock, up from their prior target price of $18.95.

Other equities analysts have also recently issued reports about the company. Zacks Research cut Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. Wall Street Zen upgraded Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, BMO Capital Markets began coverage on Silver Standard Resources in a research report on Friday, July 18th. They set a "market perform" rating and a $13.50 price target for the company. Seven investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.55.

Silver Standard Resources Price Performance

Shares of NASDAQ SSRM traded up $0.18 during trading on Friday, reaching $23.38. The company had a trading volume of 1,510,884 shares, compared to its average volume of 2,863,490. Silver Standard Resources has a twelve month low of $5.06 and a twelve month high of $23.71. The stock has a market capitalization of $4.74 billion, a PE ratio of 29.96 and a beta of -0.08. The stock has a 50-day moving average price of $16.89 and a two-hundred day moving average price of $13.27. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.28. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%.The company had revenue of $410.54 million during the quarter, compared to analysts' expectations of $381.08 million. As a group, sell-side analysts predict that Silver Standard Resources will post 0.73 earnings per share for the current year.

Institutional Trading of Silver Standard Resources

Several institutional investors and hedge funds have recently bought and sold shares of SSRM. Caitong International Asset Management Co. Ltd acquired a new stake in Silver Standard Resources during the first quarter valued at approximately $32,000. Tacita Capital Inc bought a new position in Silver Standard Resources during the 1st quarter valued at $48,000. Strs Ohio bought a new position in Silver Standard Resources during the 1st quarter valued at $50,000. Northwest & Ethical Investments L.P. bought a new position in Silver Standard Resources during the 1st quarter valued at $72,000. Finally, Simplicity Wealth LLC bought a new position in Silver Standard Resources during the 1st quarter valued at $109,000. Institutional investors and hedge funds own 68.30% of the company's stock.

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.