Silver Standard Resources (NASDAQ:SSRM) Share Price Breaks Above 200-Day Moving Average – Time to Sell?

Silver Standard Resources Inc. (NASDAQ:SSRM – Get Free Report) (TSE:SSO)’s stock price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $30.90 and traded as high as $35.88. Silver Standard Resources shares last traded at $35.68, with a volume of 1,745,709 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings upgraded Silver Standard Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Bank of America reduced their price target on 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. UBS Group decreased their price objective on Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Royal Bank Of Canada raised their price objective on 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 cut shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Silver Standard Resources has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Check Out Our Latest Report on SSRM

Silver Standard Resources Stock Down 0.4%

The firm has a fifty day moving average price of $33.30 and a two-hundred day moving average price of $30.90. The stock has a market capitalization of $7.19 billion, a P/E ratio of 32.44, a P/E/G ratio of 7.44 and a beta of -0.04.

Silver Standard Resources (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $443.80 million during the quarter, compared to the consensus estimate of $483.84 million. Sell-side analysts anticipate that Silver Standard Resources Inc. will post 3.87 earnings per share for the current fiscal year.

Silver Standard Resources Dividend Announcement

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

Silver Standard Resources Company Profile

(Get Free Report)

Silver Standard Resources Inc was a precious-metals mining company focused primarily on the exploration, development and production of silver and gold. The company also produced associated metals, including lead and zinc, from certain operations. Its assets included the Pirquitas silver mine and the Chinchillas silver-lead-zinc project in Argentina, which were combined into the Puna Operations.

Silver Standard expanded its portfolio through acquisitions, including the Marigold gold mine in Nevada and the Seabee gold operation in Saskatchewan.

Further Reading

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