Silver Standard Resources Inc. (SSRM) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $12.00 price objective on the basic materials company’s stock.
According to Zacks, “SSR Mining Inc. is a mining company. It focused on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, other industrial, technology, pharmaceuticals and solar energy markets. SSR Mining Inc, formerly known as Silver Standard Resources Inc, is based in Vancouver, Canada. “
Other analysts have also recently issued research reports about the company. Royal Bank Of Canada set a $13.00 price target on Silver Standard Resources and gave the company a hold rating in a report on Monday, June 12th. Scotiabank upgraded shares of Silver Standard Resources from a sector perform rating to an outperform rating and set a $13.00 price objective on the stock in a report on Monday, September 25th. Finally, ValuEngine lowered shares of Silver Standard Resources from a buy rating to a hold rating in a report on Tuesday, June 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Silver Standard Resources has an average rating of Buy and an average price target of $13.00.
Shares of Silver Standard Resources (NASDAQ:SSRM) traded up 1.8019% during trading on Tuesday, hitting $10.9946. 671,764 shares of the stock traded hands. The company’s 50 day moving average is $10.36 and its 200 day moving average is $10.06. The firm has a market cap of $1.31 billion, a PE ratio of 12.4939 and a beta of -0.19. Silver Standard Resources has a 52-week low of $7.70 and a 52-week high of $13.23.
Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Wednesday, August 9th. The basic materials company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Silver Standard Resources had a return on equity of 10.69% and a net margin of 20.37%. The firm had revenue of $116.98 million during the quarter, compared to analyst estimates of $117.05 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that Silver Standard Resources will post $0.40 EPS for the current year.
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About Silver Standard Resources
SSR Mining Inc, formerly Silver Standard Resources Inc, is a Canada-based resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties.
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