Silver Standard Resources (NASDAQ:SSRM) Price Target Raised to $43.00

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its price target increased by Royal Bank Of Canada from $39.00 to $43.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Several other analysts have also weighed in on SSRM. Wall Street Zen lowered shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. Weiss Ratings raised shares of Silver Standard Resources from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. UBS Group reduced their price target on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Bank of America decreased their price target on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.40.

Silver Standard Resources Price Performance

NASDAQ SSRM opened at $36.33 on Wednesday. The business has a 50 day simple moving average of $32.33 and a 200 day simple moving average of $30.72. Silver Standard Resources has a one year low of $18.19 and a one year high of $39.44. The stock has a market capitalization of $7.32 billion, a P/E ratio of 33.03, a P/E/G ratio of 7.54 and a beta of -0.04.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $443.80 million during the quarter, compared to analyst estimates of $483.84 million. Silver Standard Resources had a net margin of 12.30% and a return on equity of 16.17%. Equities analysts expect that Silver Standard Resources will post 3.87 earnings per share for the current year.

Silver Standard Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, August 14th. Silver Standard Resources’s dividend payout ratio (DPR) is currently 10.91%.

Silver Standard Resources Company Profile

Silver Standard Resources Inc was a precious-metals mining company focused primarily on the exploration, development and production of silver and gold. The company also produced associated metals, including lead and zinc, from certain operations. Its assets included the Pirquitas silver mine and the Chinchillas silver-lead-zinc project in Argentina, which were combined into the Puna Operations.

Silver Standard expanded its portfolio through acquisitions, including the Marigold gold mine in Nevada and the Seabee gold operation in Saskatchewan.