Silver Standard Resources Inc. (SSRM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a buy rating in a research note published on Thursday morning. Zacks Investment Research currently has $12.00 price objective on the basic materials company’s stock.

According to Zacks, “SSR Mining Inc. is a mining company. It focused on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, other industrial, technology, pharmaceuticals and solar energy markets. SSR Mining Inc, formerly known as Silver Standard Resources Inc, is based in Vancouver, Canada. “

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada restated a buy rating and set a $13.00 target price on shares of Silver Standard Resources in a report on Wednesday, August 2nd. ValuEngine lowered shares of Silver Standard Resources from a buy rating to a hold rating in a report on Tuesday, June 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $13.50.

Silver Standard Resources (NASDAQ SSRM) opened at 10.43 on Thursday. Silver Standard Resources has a 12-month low of $7.70 and a 12-month high of $13.73. The company has a 50-day moving average price of $10.06 and a 200 day moving average price of $10.05. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 11.85 and a beta of -0.17.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Wednesday, August 9th. The basic materials company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The business had revenue of $116.98 million for the quarter, compared to analyst estimates of $117.05 million. Silver Standard Resources had a net margin of 20.37% and a return on equity of 10.69%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. On average, equities research analysts predict that Silver Standard Resources will post $0.40 EPS for the current year.

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Silver Standard Resources Company Profile

SSR Mining Inc, formerly Silver Standard Resources Inc, is a Canada-based resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties.

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