Silver Standard Resources (NASDAQ:SSRM) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS raised its price target on Silver Standard Resources from $36 to $37 and kept a "buy" rating, signaling a potential upside of about 37.5% from the prior close.
• The company beat quarterly expectations, reporting EPS of $0.88 vs. $0.59 estimated and revenue of $521.73M vs. $436.23M, indicating stronger-than-expected performance.
• Analyst views remain mixed: the consensus is a "Moderate Buy" with an average target of $24.38, split across 2 strong buys, 3 buys, 4 holds and 1 sell.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO had its target price lifted by UBS Group from $36.00 to $37.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. UBS Group's price target points to a potential upside of 37.47% from the stock's previous close.

A number of other brokerages also recently weighed in on SSRM. Weiss Ratings reissued a "hold (c)" rating on shares of Silver Standard Resources in a report on Thursday, January 22nd. TD Cowen raised Silver Standard Resources from a "hold" rating to a "buy" rating in a research report on Thursday, January 22nd. Zacks Research lowered Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. Scotiabank upgraded Silver Standard Resources from a "sector perform" rating to a "sector outperform" rating in a report on Thursday, October 23rd. Finally, Wall Street Zen lowered shares of Silver Standard Resources from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 10th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Silver Standard Resources currently has a consensus rating of "Moderate Buy" and an average target price of $24.38.

Silver Standard Resources Stock Performance

SSRM traded up $1.01 on Wednesday, hitting $26.92. 2,044,733 shares of the company's stock were exchanged, compared to its average volume of 3,786,873. The company has a current ratio of 2.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average of $23.82 and a two-hundred day moving average of $21.95. Silver Standard Resources has a twelve month low of $8.65 and a twelve month high of $28.81. The firm has a market cap of $5.46 billion, a PE ratio of 25.84 and a beta of -0.14.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.29. Silver Standard Resources had a return on equity of 6.46% and a net margin of 15.36%.The firm had revenue of $521.73 million during the quarter, compared to analyst estimates of $436.23 million. On average, research analysts anticipate that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silver Standard Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in Silver Standard Resources in the first quarter valued at approximately $50,000. AQR Capital Management LLC lifted its stake in shares of 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 valued at $863,000 after purchasing an additional 70,726 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Silver Standard Resources by 96.6% in 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 worth $4,113,000 after purchasing an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Silver Standard Resources by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company's stock worth $24,895,000 after buying an additional 529,035 shares during the last quarter. Institutional investors 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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