Silver Standard Resources (NASDAQ:SSRM) Shares Pass Above 200 Day Moving Average – Here’s Why

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.59 and traded as high as $35.31. Silver Standard Resources shares last traded at $34.81, with a volume of 2,581,454 shares trading hands.

Analyst Upgrades and Downgrades

SSRM has been the topic of several research reports. Weiss Ratings raised Silver Standard Resources from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Wall Street Zen cut Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. UBS Group cut their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Bank of America reduced their target price on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada lifted their price target on shares of Silver Standard Resources from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Silver Standard Resources currently has an average rating of “Moderate Buy” and a consensus price target of $42.40.

Silver Standard Resources Trading Down 0.0%

The company has a market cap of $7.18 billion, a price-to-earnings ratio of 31.86, a P/E/G ratio of 7.26 and a beta of -0.04. The stock has a 50 day moving average price of $31.90 and a two-hundred day moving average price of $30.63.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Silver Standard Resources had a net margin of 12.30% and a return on equity of 16.17%. The company had revenue of $443.80 million during the quarter, compared to the consensus estimate of $483.84 million. On average, equities analysts forecast that Silver Standard Resources Inc. will post 3.87 EPS for the current fiscal year.

Silver Standard Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Silver Standard Resources’s dividend payout ratio is 10.91%.

Silver Standard Resources Company Profile

Silver Standard Resources Inc was a precious-metals mining company focused primarily on the exploration, development and production of silver and gold. The company also produced associated metals, including lead and zinc, from certain operations. Its assets included the Pirquitas silver mine and the Chinchillas silver-lead-zinc project in Argentina, which were combined into the Puna Operations.

Silver Standard expanded its portfolio through acquisitions, including the Marigold gold mine in Nevada and the Seabee gold operation in Saskatchewan.