Silver Standard Resources (NASDAQ:SSRM) Upgraded at UBS Group

Key Points

• UBS Group has upgraded Silver Standard Resources (NASDAQ:SSRM) from a "neutral" to a "buy" rating with a price target of $18.95, indicating a potential upside of 17.85%.
• Silver Standard Resources reported a significant Q2 earnings beat, posting $0.51 earnings per share, outperforming estimates by $0.28, alongside revenue of $410.54 million.
• Institutional investors hold 68.30% of Silver Standard Resources stock, with analysts giving it a consensus rating of "Hold" and a target price of $12.55.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO was upgraded by stock analysts at UBS Group from a "neutral" rating to a "buy" rating in a report issued on Friday, MarketBeat.com reports. The firm presently has a $18.95 price target on the basic materials company's stock, up from their prior price target of $13.85. UBS Group's price target indicates a potential upside of 15.73% from the company's current price.

SSRM has been the topic of a number of other reports. National Bankshares reaffirmed a "sector perform" rating on shares of Silver Standard Resources in a research note on Wednesday, April 23rd. BMO Capital Markets started coverage on Silver Standard Resources in a report on Friday, July 18th. They issued a "market perform" rating and a $13.50 target price on the stock. Wall Street Zen upgraded shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, Cormark raised shares of Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Silver Standard Resources has an average rating of "Hold" and an average price target of $12.55.

Silver Standard Resources Trading Up 1.8%

Shares of SSRM stock traded up $0.2850 during trading hours on Friday, hitting $16.3750. 1,062,089 shares of the company were exchanged, compared to its average volume of 2,700,935. The company has a 50 day simple moving average of $13.27 and a two-hundred day simple moving average of $11.46. The firm has a market cap of $3.32 billion, a P/E ratio of 20.99 and a beta of -0.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. Silver Standard Resources has a fifty-two week low of $4.82 and a fifty-two week high of $16.91.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its 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 business had revenue of $410.54 million for the quarter, compared to analyst estimates of $381.08 million. Equities analysts anticipate that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Trading of Silver Standard Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in Silver Standard Resources in the 1st quarter valued at $32,000. Tacita Capital Inc purchased a new position in shares of Silver Standard Resources in the 1st quarter worth about $48,000. Strs Ohio purchased a new position in shares of Silver Standard Resources in the 1st quarter worth about $50,000. Northwest & Ethical Investments L.P. bought a new position in Silver Standard Resources during the first quarter valued at about $72,000. Finally, Simplicity Wealth LLC purchased a new stake in Silver Standard Resources during the first quarter worth about $109,000. 68.30% of the stock is owned by hedge funds and other 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.