Silver Standard Resources (NASDAQ:SSRM) Raised to Strong-Buy at TD Securities

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) was upgraded by research analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. BMO Capital Markets upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 30th. Zacks Research cut shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. UBS Group increased their price objective on shares of Silver Standard Resources from $31.50 to $34.50 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Silver Standard Resources in a research report on Wednesday, October 8th. Finally, TD Cowen upgraded shares of Silver Standard Resources from a “hold” rating to a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Silver Standard Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.60.

Silver Standard Resources Price Performance

NASDAQ:SSRM opened at $25.98 on Thursday. The stock’s fifty day moving average is $22.26 and its two-hundred day moving average is $20.14. Silver Standard Resources has a 52 week low of $7.55 and a 52 week high of $26.10. The company has a quick ratio of 1.24, a current ratio of 2.41 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $5.27 billion, a P/E ratio of 24.98 and a beta of -0.11.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $390.16 million for the quarter, compared to the consensus estimate of $444.80 million. Silver Standard Resources had a return on equity of 6.46% and a net margin of 15.36%. Equities analysts expect that Silver Standard Resources will post 0.73 EPS for the current year.

Hedge Funds Weigh In On Silver Standard Resources

A number of institutional investors have recently modified their holdings of SSRM. Strs Ohio purchased a new stake in shares of Silver Standard Resources in the first quarter valued at about $50,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Silver Standard Resources by 96.6% in the 1st 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 acquiring an additional 201,525 shares during the period. Goldman Sachs Group Inc. raised its stake 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 valued at $24,895,000 after acquiring an additional 529,035 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Silver Standard Resources by 461.5% during the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after acquiring an additional 70,726 shares during the period. 68.30% of the stock is owned by institutional investors and hedge funds.

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.