Silver Standard Resources Inc. (NASDAQ:SSRM) Stock Has Consensus Price Target of $42.40 According to Analysts

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $42.40.

Several brokerages have weighed in on SSRM. Bank of America dropped their target price on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. UBS Group lowered their price target on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Weiss Ratings raised shares of Silver Standard Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Royal Bank Of Canada lifted their price objective on shares of Silver Standard Resources from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Finally, 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.

Silver Standard Resources Price Performance

SSRM opened at $33.27 on Wednesday. The company’s 50-day moving average price is $33.97 and its 200 day moving average price is $31.05. Silver Standard Resources has a fifty-two week low of $18.19 and a fifty-two week high of $39.44. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 6.94 and a beta of -0.10.

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

Silver Standard Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were issued a dividend of C$0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 14th. Silver Standard Resources’s payout ratio is 10.91%.

About Silver Standard Resources

Silver Standard Resources Inc was a precious-metals mining company focused on the acquisition, development and operation of silver and gold properties. The company produced silver and gold concentrates and worked to advance exploration and development projects in the Americas and other mining jurisdictions.

In 2017, Silver Standard Resources merged with Claude Resources Inc and changed its name to SSR Mining Inc The combined company expanded its portfolio to include the Seabee gold operation in Saskatchewan, Canada, and the Marigold gold mine in Nevada, while continuing to develop and operate precious-metals assets in Latin America.