Scotiabank Has Bearish Forecast for SSRM FY2027 Earnings

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) – Stock analysts at Scotiabank dropped their FY2027 EPS estimates for Silver Standard Resources in a note issued to investors on Friday, May 29th. Scotiabank analyst O. Habib now forecasts that the basic materials company will earn $3.42 per share for the year, down from their prior estimate of $3.55. The consensus estimate for Silver Standard Resources’ current full-year earnings is $4.38 per share.

A number of other research firms have also recently commented on SSRM. National Bank Financial upgraded shares of Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a report on Wednesday, March 4th. Bank of America upgraded shares of Silver Standard Resources from an “underperform” rating to a “buy” rating in a report on Wednesday, March 4th. UBS Group increased their price target on shares of Silver Standard Resources from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings cut shares of Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price target on the stock in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Silver Standard Resources presently has an average rating of “Moderate Buy” and an average price target of $37.75.

Silver Standard Resources Trading Down 4.5%

NASDAQ:SSRM opened at $29.82 on Tuesday. The company’s 50 day moving average price is $30.50 and its 200-day moving average price is $26.76. Silver Standard Resources has a 52 week low of $11.67 and a 52 week high of $36.51. The company has a quick ratio of 4.57, a current ratio of 5.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 0.40 and a beta of -0.14.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.34. Silver Standard Resources had a net margin of 12.17% and a return on equity of 14.87%. The business had revenue of $581.78 million for the quarter, compared to analysts’ expectations of $524.80 million.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SSRM. Strs Ohio bought a new position in Silver Standard Resources in the first quarter worth approximately $50,000. AQR Capital Management LLC raised its position in Silver Standard Resources by 461.5% in the first 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Silver Standard Resources by 96.6% in the first 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 worth $4,113,000 after acquiring an additional 201,525 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Silver Standard Resources by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 529,035 shares during the period. 68.30% of the stock is currently owned by institutional investors.

Silver Standard Resources Company Profile

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.