Silver Standard Resources (NASDAQ:SSRM) Stock Price Down 4.9% – What’s Next?

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) were down 4.9% during trading on Tuesday. The stock traded as low as $34.29 and last traded at $33.6940. Approximately 272,712 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 3,380,723 shares. The stock had previously closed at $35.44.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SSRM. Canadian Imperial Bank of Commerce increased their price target on shares of Silver Standard Resources from $48.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Monday, October 5th. UBS Group reduced their price target on shares of Silver Standard Resources from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday. Wall Street Zen lowered shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings raised shares of Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Finally, Bank of America lowered their price target on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $42.60.

Silver Standard Resources Trading Down 7.3%

The company has a fifty day moving average of $35.12 and a two-hundred day moving average of $31.54. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 6.88 and a beta of -0.10.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced 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 for the quarter, compared to analyst estimates of $483.84 million. As a group, sell-side analysts predict that Silver Standard Resources Inc. will post 3.88 earnings per share for the current fiscal year.

Silver Standard Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 14th were given a dividend of C$0.03 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Silver Standard Resources’s dividend payout ratio is 10.91%.

About Silver Standard Resources

Silver Standard Resources Inc was a precious-metals mining company focused on the acquisition, development and operation of silver and gold properties. The company produced silver and gold concentrates and worked to advance exploration and development projects in the Americas and other mining jurisdictions.

In 2017, Silver Standard Resources merged with Claude Resources Inc and changed its name to SSR Mining Inc The combined company expanded its portfolio to include the Seabee gold operation in Saskatchewan, Canada, and the Marigold gold mine in Nevada, while continuing to develop and operate precious-metals assets in Latin America.