Silver Standard Resources (NASDAQ:SSRM) Upgraded at TD Cowen

TD Cowen upgraded shares of Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a buy rating in a report released on Thursday morning, Marketbeat.com reports.

A number of other research firms have also recently commented on SSRM. Weiss Ratings restated a “hold (c)” rating on shares of Silver Standard Resources in a research note on Wednesday, October 8th. Zacks Research lowered Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Bank of America upped their target price on shares of Silver Standard Resources from $12.75 to $18.00 and gave the stock an “underperform” rating in a research report on Thursday, October 16th. Scotiabank upgraded shares of Silver Standard Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen lowered shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 10th. Two research 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. According to MarketBeat.com, Silver Standard Resources presently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Silver Standard Resources Trading Up 1.1%

Shares of SSRM opened at $26.26 on Thursday. Silver Standard Resources has a 1-year low of $7.55 and a 1-year high of $26.86. The company has a current ratio of 2.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $22.36 and its 200-day moving average price is $20.29. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 25.25 and a beta of -0.11.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, November 4th. The basic materials company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $390.16 million during the quarter, compared to analyst estimates of $444.80 million. Silver Standard Resources had a net margin of 15.36% and a return on equity of 6.46%. Sell-side analysts anticipate that Silver Standard Resources will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Several institutional investors and hedge funds have recently made changes to their positions in SSRM. Goldman Sachs Group Inc. lifted its position in Silver Standard Resources by 27.1% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 worth $4,113,000 after purchasing an additional 201,525 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of 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 purchasing an additional 70,726 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Silver Standard Resources during the first quarter valued at $50,000. Institutional investors own 68.30% of the company’s stock.

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.