Silver Standard Resources Inc. (NASDAQ:SSRM) Receives $20.00 Consensus PT from Analysts

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has earned an average recommendation of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $20.00.

A number of research firms have issued reports on SSRM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Silver Standard Resources in a report on Wednesday, October 8th. BMO Capital Markets upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 30th. Bank of America boosted their target price on shares of Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a research report on Thursday, October 16th. Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th.

Hedge Funds Weigh In On Silver Standard Resources

Several large investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Silver Standard Resources during the first quarter valued at approximately $50,000. Bayforest Capital Ltd bought a new stake in Silver Standard Resources in the 1st quarter valued at $147,000. Ieq Capital LLC acquired a new position in shares of Silver Standard Resources in the 1st quarter valued at $173,000. Belpointe Asset Management LLC acquired a new position in shares of Silver Standard Resources in the 1st quarter valued at $206,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Silver Standard Resources during the 1st quarter worth about $540,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

Silver Standard Resources Stock Performance

Shares of SSRM opened at $21.52 on Monday. The company has a market capitalization of $4.37 billion, a PE ratio of 20.69 and a beta of -0.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.41 and a quick ratio of 1.24. Silver Standard Resources has a one year low of $7.03 and a one year high of $25.98. The company’s fifty day moving average price is $21.80 and its 200 day moving average price is $19.14.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $390.16 million for the quarter, compared to the consensus estimate of $444.80 million. Silver Standard Resources had a return on equity of 6.46% and a net margin of 15.36%. As a group, analysts expect that Silver Standard Resources will post 0.73 earnings per share for the current year.

About Silver Standard Resources

Silver Standard Resources Inc (NASDAQ: SSRM) is a Vancouver‐based precious metals company engaged in the acquisition, exploration, development and production of silver and gold deposits primarily across the Americas. The company’s strategy centers on advancing high‐quality projects into production while maintaining a portfolio of operating mines that deliver consistent metal output. Silver Standard emphasizes sustainable resource development and community partnership at each stage of its operations.

The company’s principal producing assets include the Marigold gold mine in Nevada, which entered commercial production in 2006; the Seabee gold operation in Saskatchewan, Canada, acquired in 2016; and the Pirquitas silver‐gold mine in Argentina, which began producing in 2009.