Silver Standard Resources (NASDAQ:SSRM) Raised to Strong-Buy at BMO Capital Markets

BMO Capital Markets upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

SSRM has been the topic of a number of other reports. UBS Group lowered Silver Standard Resources from a “buy” rating to a “neutral” rating and raised their price target for the stock from $18.95 to $22.95 in a research note on Friday, September 19th. Wall Street Zen raised Silver Standard Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Finally, Zacks Research lowered Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.55.

Silver Standard Resources Stock Down 1.6%

Silver Standard Resources stock opened at $23.50 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 2.39. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 30.13 and a beta of -0.10. Silver Standard Resources has a fifty-two week low of $5.06 and a fifty-two week high of $25.09. The stock’s fifty day moving average is $18.70 and its two-hundred day moving average is $13.97.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, August 5th. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.28. The company had revenue of $410.54 million for the quarter, compared to analyst estimates of $381.08 million. Silver Standard Resources had a return on equity of 4.99% and a net margin of 12.66%. Analysts predict that Silver Standard Resources will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Silver Standard Resources

Several hedge funds and other institutional investors have recently bought and sold shares of SSRM. Bleakley Financial Group LLC boosted its position in Silver Standard Resources by 3.9% during the 1st quarter. Bleakley Financial Group LLC now owns 26,466 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 1,005 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Silver Standard Resources by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company’s stock worth $289,000 after acquiring an additional 1,089 shares during the period. Cadence Wealth Management LLC boosted its position in Silver Standard Resources by 2.8% during the 1st quarter. Cadence Wealth Management LLC now owns 50,290 shares of the basic materials company’s stock worth $504,000 after acquiring an additional 1,374 shares during the period. Hsbc Holdings PLC boosted its position in Silver Standard Resources by 1.1% during the 1st quarter. Hsbc Holdings PLC now owns 206,667 shares of the basic materials company’s stock worth $2,098,000 after acquiring an additional 2,174 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Silver Standard Resources by 19.4% during the 1st quarter. Principal Financial Group Inc. now owns 13,453 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 2,190 shares during the period. 68.30% of the stock is owned by institutional investors and hedge funds.

Silver Standard Resources Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.