Silver Standard Resources' (SSRM) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• The stock of Silver Standard Resources (SSRM) received a "hold (c)" rating from Weiss Ratings, reflecting a cautious outlook amid mixed analyst opinions.
• While Weiss maintains a hold rating, other analysts have varied opinions, with one upgrading to a "strong-buy" and Zacks lowering its rating, indicating a split in market sentiment.
• As of Wednesday, SSRM stock opened at $23.51, with a market capitalization of $4.77 billion and a notable 52-week high of $25.09 and low of $5.06.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO's stock had its "hold (c)" rating reissued by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

SSRM has been the subject of a number of other research reports. Wall Street Zen raised Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Zacks Research lowered Silver Standard Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 9th. UBS Group cut shares of Silver Standard Resources from a "buy" rating to a "neutral" rating and boosted their target price for the company from $18.95 to $22.95 in a report on Friday, September 19th. Finally, BMO Capital Markets upgraded shares of Silver Standard Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Silver Standard Resources has an average rating of "Hold" and an average target price of $13.55.

Silver Standard Resources Stock Performance

Shares of SSRM stock opened at $23.51 on Wednesday. The stock has a fifty day moving average of $19.59 and a 200 day moving average of $14.31. Silver Standard Resources has a 52 week low of $5.06 and a 52 week high of $25.09. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 30.14 and a beta of -0.09. The company has a quick ratio of 1.20, a current ratio of 2.39 and a debt-to-equity ratio of 0.03.

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

Hedge Funds Weigh In On Silver Standard Resources

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in Silver Standard Resources in the 1st quarter worth about $32,000. Tacita Capital Inc purchased a new position in Silver Standard Resources in the 1st quarter worth about $48,000. Strs Ohio purchased a new position in Silver Standard Resources in the 1st quarter worth about $50,000. Northwest & Ethical Investments L.P. purchased a new position in Silver Standard Resources in the 1st quarter worth about $72,000. Finally, Simplicity Wealth LLC purchased a new position in Silver Standard Resources in the 1st quarter worth about $109,000. Institutional investors 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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