Silver Standard Resources (NASDAQ:SSRM) Price Target Raised to $50.00

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) had its price objective lifted by Canadian Imperial Bank of Commerce from $48.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperformer rating on the basic materials company’s stock.

Several other equities analysts have also recently commented on SSRM. UBS Group cut their price target on Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Bank of America lowered their price objective 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. Weiss Ratings upgraded Silver Standard Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 25th. Royal Bank Of Canada raised their target price on Silver Standard Resources from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Finally, Wall Street Zen downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

Silver Standard Resources Price Performance

Shares of Silver Standard Resources stock opened at $32.75 on Monday. The company has a market cap of $6.60 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 7.15 and a beta of -0.10. The firm has a fifty day moving average price of $34.45 and a two-hundred day moving average price of $31.21. Silver Standard Resources has a fifty-two week low of $18.19 and a fifty-two week high of $39.44.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data 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 company had revenue of $443.80 million for the quarter, compared to the consensus estimate of $483.84 million. Silver Standard Resources had a return on equity of 16.17% and a net margin of 12.30%. Analysts expect that Silver Standard Resources will post 3.87 earnings per share for the current fiscal year.

Silver Standard Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were paid a C$0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, August 14th. Silver Standard Resources’s dividend payout ratio is currently 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.