Silver Standard Resources (NASDAQ:SSRM) Now Covered by BMO Capital Markets

Research analysts at BMO Capital Markets initiated coverage on shares of Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO in a report released on Friday. The brokerage set a "market perform" rating and a $13.50 price target on the basic materials company's stock. BMO Capital Markets' target price suggests a potential upside of 12.83% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. National Bankshares reaffirmed a "sector perform" rating on shares of Silver Standard Resources in a research note on Wednesday, April 23rd. National Bank Financial raised shares of Silver Standard Resources to a "hold" rating in a research note on Friday, March 21st. Wall Street Zen cut shares of Silver Standard Resources from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. UBS Group reiterated a "neutral" rating and set a $13.85 price objective (up previously from $12.35) on shares of Silver Standard Resources in a research report on Tuesday, June 24th. Finally, Cormark upgraded shares of Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $11.28.

Silver Standard Resources Stock Performance

Shares of SSRM stock traded down $0.16 during trading hours on Friday, reaching $11.97. The company had a trading volume of 214,211 shares, compared to its average volume of 2,470,036. The business has a fifty day moving average price of $12.21 and a 200-day moving average price of $10.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.85 and a current ratio of 3.95. The firm has a market cap of $2.43 billion, a PE ratio of 29.19 and a beta of -0.12. Silver Standard Resources has a one year low of $4.32 and a one year high of $13.48.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last posted its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Silver Standard Resources

Institutional investors have recently modified their holdings of the company. Allianz SE acquired a new stake in Silver Standard Resources in the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in Silver Standard Resources in the 1st quarter worth approximately $32,000. Tacita Capital Inc acquired a new stake in Silver Standard Resources in the 1st quarter worth approximately $48,000. Strs Ohio purchased a new position in Silver Standard Resources during the 1st quarter worth approximately $50,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Silver Standard Resources during the 1st quarter worth approximately $72,000. 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.

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