Silver Standard Resources' (SSRM) "Neutral" Rating Reiterated at UBS Group

UBS Group reaffirmed their neutral rating on shares of Silver Standard Resources (NASDAQ:SSRM - Free Report) TSE: SSO in a research report report published on Tuesday morning, MarketBeat Ratings reports. UBS Group currently has a $13.85 price target on the basic materials company's stock, up from their prior price target of $12.35.

A number of other equities research analysts have also commented on SSRM. National Bank Financial upgraded Silver Standard Resources to a "hold" rating in a research report on Friday, March 21st. National Bankshares reiterated a "sector perform" rating on shares of Silver Standard Resources in a research report on Wednesday, April 23rd. Cormark raised shares of Silver Standard Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. Finally, Wall Street Zen raised shares of Silver Standard Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Five investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.53.

Silver Standard Resources Trading Down 5.1%

Shares of SSRM stock traded down $0.67 during trading hours on Tuesday, reaching $12.36. 4,287,316 shares of the stock traded hands, compared to its average volume of 2,635,209. 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 announced its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.21. The company had revenue of $303.43 million for the quarter, compared to the consensus estimate of $332.64 million. Silver Standard Resources had a net margin of 7.82% and a return on equity of 2.44%. On average, equities research analysts forecast that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Silver Standard Resources by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company's stock worth $72,216,000 after buying an additional 71,364 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Silver Standard Resources by 21.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company's stock worth $70,265,000 after acquiring an additional 1,802,821 shares during the period. Federated Hermes Inc. lifted its position in Silver Standard Resources by 53.9% during the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock worth $25,551,000 after acquiring an additional 1,285,347 shares during the last quarter. Tidal Investments LLC lifted its position in Silver Standard Resources by 14.7% during the 4th quarter. Tidal Investments LLC now owns 3,174,367 shares of the basic materials company's stock worth $22,094,000 after acquiring an additional 407,920 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Silver Standard Resources by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,678,940 shares of the basic materials company's stock valued at $18,652,000 after acquiring an additional 38,593 shares during the period. 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.