Silver Standard Resources (NASDAQ:SSRM) Stock Rating Lowered by Wall Street Zen

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research firms also recently commented on SSRM. TD Cowen raised shares of Silver Standard Resources from a “hold” rating to a “buy” rating in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. National Bank Financial upgraded shares of Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a report on Wednesday, March 4th. Bank of America upgraded shares of Silver Standard Resources from an “underperform” rating to a “buy” rating in a report on Wednesday, March 4th. Finally, UBS Group raised their target price on shares of Silver Standard Resources from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $37.25.

Silver Standard Resources Stock Performance

SSRM stock opened at $31.75 on Friday. The company has a market capitalization of $6.87 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.52 and a beta of -0.11. Silver Standard Resources has a one year low of $9.88 and a one year high of $36.51. The company’s 50 day moving average price is $29.31 and its two-hundred day moving average price is $25.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.25 and a current ratio of 2.08.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Tuesday, February 17th. The basic materials company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.59 by $0.29. The firm had revenue of $521.73 million for the quarter, compared to the consensus estimate of $436.23 million. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%. As a group, analysts predict that Silver Standard Resources will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SSRM. Strs Ohio bought a new position in shares of Silver Standard Resources in the first quarter worth approximately $50,000. AQR Capital Management LLC grew its holdings in shares of Silver Standard Resources by 461.5% in the first 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Silver Standard Resources by 96.6% in the first 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 purchasing an additional 201,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Silver Standard Resources by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after purchasing an additional 529,035 shares during the last quarter. Institutional investors 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.