Silver Standard Resources Inc. (SSRI), a mining company focused on operation, exploration and acquisition of precious metal projects, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SSRI’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Silver Standard Resources could be a solid choice for investors.
Current Quarter Estimates for SSRI
In the past 30 days, 1 estimate has gone higher for Silver Standard Resources while no estimate has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 25 cents a share 30 days ago, to a loss of 15 cents today, a move of 40%.
Current Year Estimates for SSRI
Meanwhile, Silver Standard Resources’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 39 cents per share 30 days ago to a loss of 21 cents per share today, an increase of 46.2%.
Bottom Line
The stock has also started to move higher lately, adding 12.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.
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