Silver Standard Resources (NASDAQ:SSRM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other equities research analysts have also weighed in on the stock. Zacks Research raised shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. CIBC lifted their target price on Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Silver Standard Resources in a report on Wednesday, October 8th. UBS Group upped their price target on shares of Silver Standard Resources from $29.60 to $31.50 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Scotiabank upgraded shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Silver Standard Resources currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Silver Standard Resources Stock Performance

Silver Standard Resources stock opened at $21.84 on Friday. The firm has a fifty day simple moving average of $22.10 and a two-hundred day simple moving average of $18.25. 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 twelve month low of $6.78 and a twelve month high of $25.98. The company has a market capitalization of $4.43 billion, a PE ratio of 21.00 and a beta of -0.10.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, November 4th. The basic materials company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $390.16 million for the quarter, compared to the consensus estimate of $444.80 million. Silver Standard Resources had a return on equity of 6.46% and a net margin of 15.36%. Research analysts expect that Silver Standard Resources will post 0.73 EPS for the current year.

Hedge Funds Weigh In On Silver Standard Resources

A number of large investors have recently made changes to their positions in SSRM. Nuveen LLC purchased a new position in shares of Silver Standard Resources during the first quarter valued at approximately $18,759,000. Jacobs Levy Equity Management Inc. grew its position in Silver Standard Resources by 921.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,013,320 shares of the basic materials company’s stock valued at $10,164,000 after acquiring an additional 914,084 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Silver Standard Resources by 2,392.4% in the first quarter. Russell Investments Group Ltd. now owns 579,552 shares of the basic materials company’s stock worth $5,813,000 after purchasing an additional 556,299 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Silver Standard Resources by 27.1% during 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 purchasing an additional 529,035 shares during the last quarter. Finally, Sprott Inc. lifted its position in shares of Silver Standard Resources by 136.3% during the first quarter. Sprott Inc. now owns 384,034 shares of the basic materials company’s stock worth $3,852,000 after purchasing an additional 221,533 shares during the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

Silver Standard Resources Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.