Scotiabank Analysts Decrease Earnings Estimates for SSRM

by · The Markets Daily

Silver Standard Resources Inc. (NASDAQ:SSRM – Free Report) (TSE:SSO) – Stock analysts at Scotiabank lowered their FY2027 earnings per share (EPS) estimates for Silver Standard Resources in a research note issued to investors on Wednesday, July 15th. Scotiabank analyst O. Habib now anticipates that the basic materials company will post earnings of $3.46 per share for the year, down from their prior estimate of $3.50. The consensus estimate for Silver Standard Resources’ current full-year earnings is $3.92 per share.

A number of other research firms have also weighed in on SSRM. UBS Group cut their target price 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. Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. Royal Bank Of Canada lowered their price objective on shares of Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings cut shares of Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 15th. Finally, Bank of America reduced their target price on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a report 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 assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.60.

Read Our Latest Research Report on Silver Standard Resources

Silver Standard Resources Stock Up 8.6%

Shares of SSRM opened at $27.21 on Monday. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 5.15 and a beta of -0.10. Silver Standard Resources has a 1 year low of $11.86 and a 1 year high of $36.51. The business’s 50 day simple moving average is $29.18 and its 200-day simple moving average is $28.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.33 and a quick ratio of 4.57.

Silver Standard Resources (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.34. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%.The business had revenue of $418.46 million during the quarter, compared to analysts’ expectations of $524.79 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in shares of Silver Standard Resources by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 529,035 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Silver Standard Resources by 96.6% during 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 acquiring an additional 201,525 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Silver Standard Resources by 461.5% during the 1st 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 last quarter. Finally, Strs Ohio purchased a new position in Silver Standard Resources during the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Silver Standard Resources Company Profile

(Get Free Report)

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.

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