Zacks Investment Research Lowers Silver Standard Resources Inc. (SSRM) to Hold
Zacks Investment Research downgraded shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a hold rating in a report issued on Wednesday.
According to Zacks, “SSR Mining Inc. is a mining company. It focused on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, other industrial, technology, pharmaceuticals and solar energy markets. SSR Mining Inc, formerly known as Silver Standard Resources Inc, is based in Vancouver, Canada. “
A number of other research firms also recently commented on SSRM. Royal Bank Of Canada reiterated an outperform rating on shares of Silver Standard Resources in a report on Thursday, September 7th. ValuEngine downgraded shares of Silver Standard Resources from a buy rating to a hold rating in a report on Tuesday, June 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $13.50.
Silver Standard Resources (NASDAQ SSRM) traded down 0.38% on Wednesday, reaching $10.43. The company had a trading volume of 1,163,976 shares. The firm has a market capitalization of $1.25 billion, a P/E ratio of 11.85 and a beta of -0.17. The company’s 50-day moving average price is $10.06 and its 200 day moving average price is $10.05. Silver Standard Resources has a 1-year low of $7.70 and a 1-year high of $13.73.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. The company had revenue of $116.98 million during the quarter, compared to the consensus estimate of $117.05 million. Silver Standard Resources had a net margin of 20.37% and a return on equity of 10.69%. Silver Standard Resources’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, equities analysts forecast that Silver Standard Resources will post $0.40 EPS for the current year.
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Silver Standard Resources Company Profile
SSR Mining Inc, formerly Silver Standard Resources Inc, is a Canada-based resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties.
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