Silver Standard Resources (NASDAQ:SSRM) Stock Gets Price Target Reduction from UBS Group

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its price target trimmed by UBS Group from $41.00 to $39.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other analysts have also recently weighed in on the stock. Royal Bank Of Canada raised 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. Bank of America dropped 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 report on Thursday, July 9th. Weiss Ratings upgraded shares of Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Canadian Imperial Bank of Commerce increased their target price on Silver Standard Resources from $48.00 to $50.00 and gave the company an “outperformer” rating in a research note on Monday, October 5th. Finally, Wall Street Zen downgraded Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $42.60.

Silver Standard Resources Price Performance

Shares of SSRM opened at $31.85 on Wednesday. The firm’s 50 day simple moving average is $35.18 and its 200 day simple moving average is $31.58. The company has a market capitalization of $6.42 billion, a P/E ratio of 28.95, a P/E/G ratio of 6.60 and a beta of -0.10. Silver Standard Resources has a 1-year low of $18.19 and a 1-year high of $39.44.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results 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 net margin of 12.30% and a return on equity of 16.17%. The company had revenue of $443.80 million for the quarter, compared to the consensus estimate of $483.84 million. On average, equities analysts anticipate that Silver Standard Resources will post 3.88 earnings per share for the current year.

Silver Standard Resources Announces Dividend

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

Silver Standard Resources Company Profile

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.