Silver Standard Resources (NASDAQ:SSRM) Raised to Strong-Buy at Wall Street Zen

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

SSRM has been the subject of a number of other reports. Weiss Ratings cut shares of Silver Standard Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday. BMO Capital Markets raised shares of Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a report on Thursday, March 5th. Bank of America raised shares of Silver Standard Resources from an “underperform” rating to a “buy” rating in a report on Wednesday, March 4th. TD Cowen raised shares of Silver Standard Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 22nd. Finally, UBS Group upped their target price on shares of Silver Standard Resources from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $37.75.

Silver Standard Resources Price Performance

Shares of NASDAQ:SSRM opened at $34.20 on Friday. Silver Standard Resources has a twelve month low of $10.19 and a twelve month high of $36.51. The stock has a market capitalization of $7.40 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 0.48 and a beta of -0.17. The company has a quick ratio of 4.57, a current ratio of 5.33 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average price is $29.88 and its 200-day moving average price is $25.60.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.34. Silver Standard Resources had a net margin of 12.17% and a return on equity of 14.87%. The business had revenue of $581.78 million during the quarter, compared to analysts’ expectations of $524.80 million. Equities research analysts expect that Silver Standard Resources will post 3.93 EPS for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new position in shares of Silver Standard Resources in the first quarter worth about $50,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Silver Standard Resources by 96.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 410,046 shares of the basic materials company’s stock worth $4,113,000 after acquiring an additional 201,525 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Silver Standard Resources by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 529,035 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Silver Standard Resources by 461.5% in the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after acquiring an additional 70,726 shares during the period. 68.30% of the stock is owned by institutional investors.

Silver Standard Resources Company Profile

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.