Silver Standard Resources Inc. (NASDAQ:SSRM) Given Consensus Rating of “Moderate Buy” by Analysts

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $38.20.

Several analysts recently weighed in on SSRM shares. National Bank Financial raised shares of Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, March 4th. Bank of America raised shares of Silver Standard Resources from an “underperform” rating to a “buy” rating in a research note on Wednesday, March 4th. Wall Street Zen raised shares of Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Canadian Imperial Bank of Commerce raised shares of Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price objective on the stock in a research note on Thursday, March 12th. Finally, Weiss Ratings cut shares of Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th.

Silver Standard Resources Stock Performance

Shares of Silver Standard Resources stock opened at $29.38 on Monday. The company has a quick ratio of 4.57, a current ratio of 5.33 and a debt-to-equity ratio of 0.01. Silver Standard Resources has a twelve month low of $11.70 and a twelve month high of $36.51. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 0.36 and a beta of -0.14. The company’s fifty day moving average is $30.20 and its 200 day moving average is $27.73.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.34. Silver Standard Resources had a net margin of 12.17% and a return on equity of 14.87%. The company had revenue of $581.78 million for the quarter, compared to analysts’ expectations of $524.80 million. Sell-side analysts forecast that Silver Standard Resources will post 4.49 EPS for the current year.

Institutional Trading of Silver Standard Resources

A number of institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in Silver Standard Resources during the first quarter valued at $50,000. AQR Capital Management LLC boosted its position 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 valued at $863,000 after acquiring an additional 70,726 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Silver Standard Resources by 96.6% during the first 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 valued at $4,113,000 after acquiring an additional 201,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in 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 valued at $24,895,000 after acquiring an additional 529,035 shares during the last quarter. Institutional investors 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.