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

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

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on Silver Standard Resources from $29.60 to $31.50 and gave the company a “buy” rating in a report on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Silver Standard Resources in a report on Wednesday, October 8th. Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Finally, Scotiabank upgraded shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, October 23rd.

Silver Standard Resources Price Performance

Shares of SSRM stock opened at $21.52 on Monday. The company has a quick ratio of 1.24, a current ratio of 2.41 and a debt-to-equity ratio of 0.03. Silver Standard Resources has a 12-month low of $7.03 and a 12-month high of $25.98. The firm has a fifty day moving average of $21.80 and a 200-day moving average of $19.22. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 20.69 and a beta of -0.11.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Silver Standard Resources had a return on equity of 6.46% and a net margin of 15.36%.The firm had revenue of $390.16 million for the quarter, compared to analyst estimates of $444.80 million. On average, equities research analysts forecast that Silver Standard Resources will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SSRM. Strs Ohio bought a new position in shares of Silver Standard Resources during the first quarter worth about $50,000. Bayforest Capital Ltd acquired a new position in Silver Standard Resources during the 1st quarter worth approximately $147,000. Ieq Capital LLC bought a new position in shares of Silver Standard Resources during the 1st quarter worth approximately $173,000. Belpointe Asset Management LLC acquired a new stake in shares of Silver Standard Resources in the first quarter valued at approximately $206,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Silver Standard Resources in the first quarter valued at approximately $540,000. 68.30% of the stock is owned by institutional investors and hedge funds.

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.