Royal Bank Of Canada Issues Positive Forecast for Silver Standard Resources (NASDAQ:SSRM) Stock Price

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its target price boosted by investment analysts at Royal Bank Of Canada from $39.00 to $43.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 21.71% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Bank of America dropped their price target on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. UBS Group reduced their price objective on Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Wall Street Zen lowered shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings raised shares of Silver Standard Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.40.

Silver Standard Resources Trading Up 0.3%

Shares of SSRM traded up $0.09 during mid-day trading on Wednesday, reaching $35.33. The company’s stock had a trading volume of 1,336,463 shares, compared to its average volume of 3,498,172. The stock has a market cap of $7.20 billion, a PE ratio of 32.11, a P/E/G ratio of 7.26 and a beta of -0.04. The company’s fifty day moving average price is $31.90 and its two-hundred day moving average price is $30.63. Silver Standard Resources has a 52 week low of $18.19 and a 52 week high of $39.44.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $443.80 million for the quarter, compared to the consensus estimate of $483.84 million. Silver Standard Resources had a net margin of 12.30% and a return on equity of 16.17%. Research analysts anticipate that Silver Standard Resources will post 3.87 EPS for the current year.

Silver Standard Resources Company Profile

Silver Standard Resources Inc was a precious-metals mining company focused primarily on the exploration, development and production of silver and gold. The company also produced associated metals, including lead and zinc, from certain operations. Its assets included the Pirquitas silver mine and the Chinchillas silver-lead-zinc project in Argentina, which were combined into the Puna Operations.

Silver Standard expanded its portfolio through acquisitions, including the Marigold gold mine in Nevada and the Seabee gold operation in Saskatchewan.