Silver Standard Resources (NASDAQ:SSRM) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Bank of America dropped their price target on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada raised their price target on Silver Standard Resources from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Canadian Imperial Bank of Commerce lifted their price objective on Silver Standard Resources from $48.00 to $50.00 and gave the company an “outperformer” rating in a report on Monday, October 5th. Weiss Ratings upgraded Silver Standard Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Finally, UBS Group lowered their price objective on shares of Silver Standard Resources from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Silver Standard Resources presently has a consensus rating of “Buy” and a consensus target price of $42.60.

Silver Standard Resources Stock Up 0.3%

Shares of NASDAQ:SSRM opened at $31.85 on Friday. Silver Standard Resources has a 52-week low of $18.19 and a 52-week high of $39.44. The stock has a market cap of $6.42 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 6.62 and a beta of -0.10. The business’s 50 day moving average is $35.18 and its 200 day moving average is $31.58.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $443.80 million for the quarter, compared to analysts’ expectations of $483.84 million. Silver Standard Resources had a return on equity of 16.17% and a net margin of 12.30%. On average, sell-side analysts anticipate that Silver Standard Resources will post 3.25 EPS for the current fiscal year.

Silver Standard Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 14th were issued a dividend of C$0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 14th. Silver Standard Resources’s dividend payout ratio (DPR) is presently 10.91%.

Silver Standard Resources Company Profile

Silver Standard Resources Inc was a precious-metals mining company focused on the acquisition, development and operation of silver and gold properties. The company produced silver and gold concentrates and worked to advance exploration and development projects in the Americas and other mining jurisdictions.

In 2017, Silver Standard Resources merged with Claude Resources Inc and changed its name to SSR Mining Inc The combined company expanded its portfolio to include the Seabee gold operation in Saskatchewan, Canada, and the Marigold gold mine in Nevada, while continuing to develop and operate precious-metals assets in Latin America.