UBS Group Forecasts Strong Price Appreciation for Silver Standard Resources (NASDAQ:SSRM) Stock

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its target price raised by equities researchers at UBS Group from $31.50 to $34.50 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price would indicate a potential upside of 45.51% from the company’s current price.

Several other research analysts have also recently issued reports on SSRM. Bank of America increased their price target on shares of Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a report on Thursday, October 16th. Wall Street Zen downgraded Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Scotiabank upgraded Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. CIBC upped their price objective on Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, BMO Capital Markets raised Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Silver Standard Resources currently has a consensus rating of “Hold” and a consensus price target of $20.60.

Silver Standard Resources Stock Performance

SSRM stock traded down $0.13 during trading on Wednesday, hitting $23.71. The company had a trading volume of 2,478,251 shares, compared to its average volume of 2,697,594. The firm has a 50-day moving average price of $21.80 and a 200-day moving average price of $19.71. The company has a quick ratio of 1.24, a current ratio of 2.41 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.81 billion, a PE ratio of 22.84 and a beta of -0.11. Silver Standard Resources has a 1-year low of $7.22 and a 1-year high of $25.98.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $390.16 million for the quarter, compared to analyst estimates of $444.80 million. On average, analysts expect that Silver Standard Resources will post 0.73 earnings per share for the current year.

Institutional Trading of Silver Standard Resources

Large investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of Silver Standard Resources in the first quarter valued at $50,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Silver Standard Resources by 96.6% in the 1st 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 buying an additional 201,525 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Silver Standard Resources by 27.1% in 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 buying an additional 529,035 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Silver Standard Resources by 461.5% during the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock valued at $863,000 after acquiring an additional 70,726 shares in the last quarter. Institutional investors and hedge funds 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.