Silver Standard Resources Inc. (NASDAQ:SSRM) Given Consensus Rating of “Hold” by Brokerages

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $20.60.

A number of analysts have commented on the company. Bank of America lifted their price target on Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a research report on Thursday, October 16th. Scotiabank upgraded Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Silver Standard Resources in a research report on Wednesday, October 8th. TD Cowen upgraded shares of Silver Standard Resources from a “hold” rating to a “buy” rating in a report on Thursday. Finally, TD Securities upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday.

Hedge Funds Weigh In On Silver Standard Resources

A number of institutional investors have recently modified their holdings of SSRM. Strs Ohio acquired a new position in shares of Silver Standard Resources in the 1st quarter valued at about $50,000. AQR Capital Management LLC lifted its holdings in Silver Standard Resources by 461.5% in 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 purchasing an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Silver Standard Resources by 27.1% during the 1st 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 period. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Trading Up 12.3%

Shares of Silver Standard Resources stock opened at $25.98 on Friday. The firm’s 50 day simple moving average is $22.26 and its two-hundred day simple moving average is $20.14. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 24.98 and a beta of -0.11. Silver Standard Resources has a 12-month low of $7.55 and a 12-month high of $26.10. The company has a current ratio of 2.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted 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. Silver Standard Resources had a net margin of 15.36% and a return on equity of 6.46%. The business had revenue of $390.16 million during the quarter, compared to the consensus estimate of $444.80 million. Analysts predict that Silver Standard Resources will post 0.73 EPS for the current year.

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.