Silver Standard Resources (NASDAQ:SSRM) Upgraded to “Outperform” at National Bank Financial

National Bank Financial upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a sector perform rating to an outperform rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports.

SSRM has been the topic of several other reports. Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Silver Standard Resources in a research note on Thursday, January 22nd. TD Cowen upgraded Silver Standard Resources from a “hold” rating to a “buy” rating in a research report on Thursday, January 22nd. Canadian Imperial Bank of Commerce lifted their price objective on Silver Standard Resources from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Finally, TD Securities raised Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.38.

Silver Standard Resources Price Performance

Silver Standard Resources stock opened at $33.26 on Wednesday. The business’s 50-day simple moving average is $25.61 and its 200 day simple moving average is $23.08. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.03. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 0.48 and a beta of -0.18. Silver Standard Resources has a 12-month low of $8.65 and a 12-month high of $33.49.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, February 17th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.29. The company had revenue of $521.73 million for the quarter, compared to the consensus estimate of $436.23 million. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%. As a group, research analysts anticipate that Silver Standard Resources will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Several large investors have recently modified their holdings of the business. Strs Ohio acquired a new stake in shares of Silver Standard Resources during the first quarter worth about $50,000. AQR Capital Management LLC raised its holdings in Silver Standard Resources by 461.5% during the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after buying an additional 70,726 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Silver Standard Resources by 96.6% during 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 during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Silver Standard Resources by 27.1% in the first 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 in the last quarter. 68.30% of the stock is currently owned by institutional investors.

About Silver Standard Resources

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.