Silver Standard Resources (NASDAQ:SSRM) Price Target Lowered to $40.00 at UBS Group

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its price target decreased by equities research analysts at UBS Group from $43.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price would suggest a potential upside of 41.11% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Zacks Research cut Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Royal Bank Of Canada raised Silver Standard Resources from a “sector perform” rating to an “outperform” rating and cut their price objective for the company from $45.00 to $40.00 in a research note on Wednesday, June 3rd. Bank of America raised Silver Standard Resources from an “underperform” rating to a “buy” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings downgraded Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.40.

Silver Standard Resources Stock Down 0.1%

Shares of SSRM stock traded down $0.03 on Tuesday, reaching $28.35. 2,151,271 shares of the company’s stock traded hands, compared to its average volume of 3,789,763. Silver Standard Resources has a 12-month low of $11.70 and a 12-month high of $36.51. The company has a market capitalization of $5.88 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 0.36 and a beta of -0.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.57 and a current ratio of 5.33. The business’s 50 day moving average price is $30.14 and its two-hundred day moving average price is $27.78.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $581.78 million for the quarter, compared to the consensus estimate of $524.79 million. On average, equities analysts forecast that Silver Standard Resources will post 4.49 earnings per share for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Several institutional investors and hedge funds have recently made changes to their positions in SSRM. Goldman Sachs Group Inc. increased its holdings in 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 valued at $24,895,000 after purchasing an additional 529,035 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 period. AQR Capital Management LLC boosted its position in shares of Silver Standard Resources by 461.5% in the 1st 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 last quarter. Finally, Strs Ohio bought a new stake in shares of Silver Standard Resources in the 1st quarter valued at about $50,000. Institutional investors and hedge funds 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.