UBS Group Issues Pessimistic Forecast for Silver Standard Resources (NASDAQ:SSRM) Stock Price

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its target price reduced by analysts at UBS Group from $43.00 to $40.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target points to a potential upside of 41.11% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Bank of America upgraded shares of Silver Standard Resources from an “underperform” rating to a “buy” rating in a research note on Wednesday, March 4th. Zacks Research downgraded Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. Weiss Ratings cut shares of Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Finally, Canadian Imperial Bank of Commerce raised shares of Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price objective on the stock in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.40.

Silver Standard Resources Trading Down 0.1%

NASDAQ SSRM traded down $0.03 during trading on Tuesday, hitting $28.35. The stock had a trading volume of 2,151,271 shares, compared to its average volume of 3,789,763. The company has a market capitalization of $5.88 billion, a PE ratio of 27.00, a PEG ratio of 0.36 and a beta of -0.14. Silver Standard Resources has a twelve month low of $11.70 and a twelve month high of $36.51. 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 has a 50 day moving average price of $30.14 and a 200 day moving average price of $27.78.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.81 by $0.34. The business had revenue of $581.78 million during the quarter, compared to the consensus estimate of $524.79 million. Silver Standard Resources had a net margin of 12.17% and a return on equity of 14.87%. As a group, equities research analysts forecast that Silver Standard Resources will post 4.49 earnings per share for the current year.

Institutional Trading of Silver Standard Resources

A number of institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Silver Standard Resources in the first quarter valued at about $50,000. Goldman Sachs Group Inc. raised its position in shares of Silver Standard Resources by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock valued at $24,895,000 after acquiring an additional 529,035 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Silver Standard Resources by 96.6% during 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. Finally, AQR Capital Management LLC grew its stake in Silver Standard Resources by 461.5% during the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after buying an additional 70,726 shares during the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.