Wall Street Zen Upgrades Silver Standard Resources (NASDAQ:SSRM) to Strong-Buy

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

Other equities analysts have also recently issued research reports about the company. National Bankshares reaffirmed a "sector perform" rating on shares of Silver Standard Resources in a research note on Wednesday, April 23rd. UBS Group raised their price target on shares of Silver Standard Resources from $12.10 to $12.35 and gave the stock a "buy" rating in a report on Friday, April 11th. Cormark raised shares of Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. Finally, National Bank Financial upgraded shares of Silver Standard Resources to a "hold" rating in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Silver Standard Resources currently has a consensus rating of "Hold" and an average target price of $10.53.

Silver Standard Resources Trading Down 5.1%

Shares of SSRM stock traded down $0.67 during trading hours on Friday, reaching $12.36. 4,287,328 shares of the stock traded hands, compared to its average volume of 2,635,234. The company has a quick ratio of 1.85, a current ratio of 3.95 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.51 billion, a PE ratio of 30.15 and a beta of -0.13. Silver Standard Resources has a 1-year low of $4.32 and a 1-year high of $13.46. The business has a fifty day moving average price of $11.45 and a 200 day moving average price of $9.78.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.21. Silver Standard Resources had a return on equity of 2.44% and a net margin of 7.82%. The company had revenue of $303.43 million during the quarter, compared to analyst estimates of $332.64 million. On average, equities research analysts forecast that Silver Standard Resources will post 0.73 EPS for the current 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 SSRM. Strs Ohio acquired a new position in shares of Silver Standard Resources during the 1st quarter worth $50,000. Belpointe Asset Management LLC bought a new stake in Silver Standard Resources in the first quarter worth $206,000. Bayforest Capital Ltd acquired a new position in Silver Standard Resources during the first quarter worth $147,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 buying an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Silver Standard Resources by 27.1% in 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

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.