Silver Standard Resources Inc. (NASDAQ:SSRM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Silver Standard Resources Inc. (NASDAQ:SSRM – Get Free Report) (TSE:SSO) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $41.60.

SSRM has been the topic of several analyst reports. 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 report on Tuesday, June 30th. Royal Bank Of Canada cut their price target on shares of Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. Bank of America decreased their price objective 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. Finally, 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.

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Institutional Investors Weigh In On Silver Standard Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in Silver Standard Resources in the first quarter worth $50,000. AQR Capital Management LLC raised 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 valued at $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 raised 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 valued at $4,113,000 after buying an additional 201,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Silver Standard Resources by 27.1% during 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. 68.30% of the stock is owned by institutional investors and hedge funds.

Silver Standard Resources Price Performance

Shares of NASDAQ:SSRM opened at $37.15 on Friday. The business’s fifty day moving average price is $30.96 and its two-hundred day moving average price is $30.25. Silver Standard Resources has a fifty-two week low of $18.19 and a fifty-two week high of $39.44. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 8.11 and a beta of -0.04.

Silver Standard Resources (NASDAQ:SSRM – Get Free Report) (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). The company had revenue of $443.80 million for the quarter, compared to analyst estimates of $483.84 million. Silver Standard Resources had a return on equity of 16.17% and a net margin of 12.30%. Research analysts expect that Silver Standard Resources will post 3.87 EPS for the current fiscal year.

Silver Standard Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. Silver Standard Resources’s payout ratio is presently 10.91%.

About Silver Standard Resources

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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.

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