Silver Standard Resources Inc. (NASDAQ:SSRM) Receives Average Rating of “Moderate Buy” from Analysts

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $41.60.

Several analysts recently commented on SSRM shares. Bank of America reduced their price objective on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. UBS Group lowered their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Wall Street Zen cut shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Royal Bank Of Canada decreased their price target on Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, Zacks Research cut Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th.

Silver Standard Resources Price Performance

Shares of SSRM stock opened at $31.40 on Tuesday. The business’s fifty day moving average price is $28.23 and its 200 day moving average price is $28.90. Silver Standard Resources has a 1-year low of $14.67 and a 1-year high of $36.51. The firm has a market capitalization of $6.48 billion, a PE ratio of 28.55, a P/E/G ratio of 6.55 and a beta of -0.09.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Silver Standard Resources had a return on equity of 16.17% and a net margin of 12.30%.The business had revenue of $443.80 million during the quarter, compared to analysts’ expectations of $483.84 million. Equities research analysts expect that Silver Standard Resources will post 3.92 earnings per share for the current fiscal year.

Silver Standard Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 14th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, August 14th.

Institutional Trading of Silver Standard Resources

Several large investors have recently bought and sold shares of SSRM. Strs Ohio purchased a new position in shares of Silver Standard Resources in the first quarter valued at $50,000. AQR Capital Management LLC raised its stake in shares of Silver Standard Resources by 461.5% during the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after buying 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 shares of Silver Standard Resources by 96.6% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position 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 worth $24,895,000 after buying an additional 529,035 shares in the last quarter. Institutional investors and hedge funds 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.