UBS Group Issues Positive Forecast for Silver Standard Resources (NASDAQ:SSRM) Stock Price

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its target price lifted by UBS Group from $41.00 to $42.00 in a research report sent to investors on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the basic materials company’s stock.

A number of other research analysts have also weighed in on SSRM. Weiss Ratings lowered shares of Silver Standard Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 20th. Bank of America upgraded Silver Standard Resources from an “underperform” rating to a “buy” rating in a research note on Wednesday, March 4th. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. National Bank Financial raised Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, March 4th. Finally, TD Securities upgraded Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Silver Standard Resources has an average rating of “Moderate Buy” and a consensus price target of $37.25.

Silver Standard Resources Price Performance

Shares of NASDAQ SSRM opened at $26.45 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.25 and a current ratio of 2.08. The firm has a fifty day moving average of $27.28 and a 200 day moving average of $24.09. The firm has a market cap of $5.73 billion, a PE ratio of 14.30, a PEG ratio of 0.40 and a beta of -0.18. Silver Standard Resources has a one year low of $8.65 and a one year high of $33.49.

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

Institutional Investors Weigh In On Silver Standard Resources

A number of hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in 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 worth $863,000 after purchasing an additional 70,726 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 last quarter. Finally, Strs Ohio purchased a new stake in shares of Silver Standard Resources during the 1st quarter valued at approximately $50,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.