Zacks Investment Research Lowers Silver Standard Resources Inc. (SSRM) to Hold
Zacks Investment Research cut shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a hold rating in a research report released 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. “
Several other research firms have also recently weighed in on SSRM. Royal Bank Of Canada reissued an outperform rating on shares of Silver Standard Resources in a report on Thursday, September 7th. Scotiabank raised shares of Silver Standard Resources from a sector perform rating to an outperform rating and set a $13.00 price objective for the company in a report on Monday, September 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $12.75.
Silver Standard Resources (SSRM) traded up 0.73% on Wednesday, hitting $9.70. 675,199 shares of the stock were exchanged. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 11.02 and a beta of -0.19. Silver Standard Resources has a 12 month low of $7.70 and a 12 month high of $12.90. The company has a 50-day moving average of $10.50 and a 200-day moving average of $10.03.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. Silver Standard Resources had a net margin of 20.37% and a return on equity of 10.69%. The firm had revenue of $116.98 million during the quarter, compared to analysts’ expectations of $117.05 million. During the same period in the previous year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts predict that Silver Standard Resources will post $0.41 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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