Silver Standard Resources (NASDAQ:SSRM) Rating Lowered to Hold at Zacks Research

Key Points

• Silver Standard Resources' rating has been downgraded from "strong-buy" to "hold" by Zacks Research, reflecting a bearish outlook on the stock.
• Despite the downgrade, the stock has received mixed ratings from other analysts, with UBS Group and Wall Street Zen rating it as a "buy" and "strong-buy," respectively.
• The company's latest quarterly earnings surpassed estimates, reporting $0.51 earnings per share (EPS) against a consensus estimate of $0.23, alongside a revenue of $410.54 million.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on SSRM. BMO Capital Markets began coverage on shares of Silver Standard Resources in a research report on Friday, July 18th. They set a "market perform" rating and a $13.50 price target on the stock. UBS Group raised shares of Silver Standard Resources from a "neutral" rating to a "buy" rating and increased their price objective for the company from $13.85 to $18.95 in a research report on Friday, August 15th. Finally, Wall Street Zen raised shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $12.55.

Silver Standard Resources Stock Performance

NASDAQ SSRM opened at $21.97 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average price is $15.36 and its two-hundred day moving average price is $12.55. Silver Standard Resources has a 1 year low of $5.06 and a 1 year high of $22.02. The firm has a market capitalization of $4.46 billion, a P/E ratio of 28.17 and a beta of -0.08.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SSRM. Caitong International Asset Management Co. Ltd bought a new stake in shares of Silver Standard Resources in the 1st quarter worth $32,000. Tacita Capital Inc bought a new position in Silver Standard Resources during the first quarter worth about $48,000. Strs Ohio bought a new stake in shares of Silver Standard Resources during the 1st quarter valued at $50,000. Northwest & Ethical Investments L.P. bought a new position in shares of Silver Standard Resources in the first quarter valued at approximately $72,000. Finally, Simplicity Wealth LLC purchased a new position in Silver Standard Resources during the first quarter valued at approximately $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.

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