Silver Standard Resources Inc. (SSRM) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a hold rating in a research note released on Tuesday morning.
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. “
SSRM has been the topic of a number of other research reports. Royal Bank Of Canada restated an outperform rating on shares of Silver Standard Resources in a research report on Thursday, September 7th. ValuEngine cut Silver Standard Resources from a buy rating to a hold rating in a research report on Tuesday, June 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $13.25.
Shares of Silver Standard Resources (SSRM) traded up 0.439% during midday trading on Tuesday, reaching $10.305. 42,126 shares of the company’s stock traded hands. Silver Standard Resources has a 52-week low of $7.70 and a 52-week high of $13.73. The stock has a 50 day moving average of $10.09 and a 200-day moving average of $10.04. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 11.710 and a beta of -0.17.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $116.98 million for the quarter, compared to analysts’ expectations of $117.05 million. Silver Standard Resources had a return on equity of 10.69% and a net margin of 20.37%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. On average, equities research analysts expect that Silver Standard Resources will post $0.40 EPS for the current year.
About Silver Standard Resources
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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