Silver Standard Resources (NASDAQ:SSRM) Issues Quarterly Earnings Results

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) released its quarterly earnings results on Tuesday. The basic materials company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01), Zacks reports. The company had revenue of $443.80 million for the quarter, compared to analysts’ expectations of $483.84 million. Silver Standard Resources had a net margin of 12.30% and a return on equity of 15.32%.

Here are the key takeaways from Silver Standard Resources’ conference call:

• Strategic repositioning completed: SSR Mining received approximately $1.5 billion from the Çöpler sale and exited Türkiye, ending the quarter with nearly $1.8 billion in cash and no debt.
• The company returned $338 million through share repurchases in the second quarter and reinstated its dividend, while continuing to execute a $500 million buyback program that management views as accretive at current valuations.
• First-half production was in line with expectations, and management reiterated full-year production guidance, with approximately 55%–60% of second-half output expected in the fourth quarter.
• Consolidated all-in sustaining costs are expected toward the upper end of guidance, with sustaining capital spending projected at roughly $230 million–$235 million versus the original $202 million plan, alongside exposure to higher fuel and other input costs.
• SSR increased growth investment across its portfolio, including Marigold, CC&V, Seabee and Puna; an updated Marigold technical report is expected by year-end and could outline mine-life extensions, while projects such as Porky West and VLF2 offer additional long-term upside.

Silver Standard Resources Stock Down 0.4%

NASDAQ SSRM traded down $0.12 during midday trading on Thursday, hitting $28.88. 1,699,464 shares of the company traded hands, compared to its average volume of 3,683,495. The company has a market cap of $5.96 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 5.47 and a beta of -0.09. 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 has a 52 week low of $14.61 and a 52 week high of $36.51. The company’s 50-day simple moving average is $28.21 and its 200-day simple moving average is $28.75.

Silver Standard Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 14th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, August 14th.

Institutional Trading of Silver Standard Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio bought a new stake in Silver Standard Resources in the first quarter valued at about $50,000. AQR Capital Management LLC lifted its holdings in 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 buying an additional 70,726 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 acquiring an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of 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 worth $24,895,000 after acquiring an additional 529,035 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SSRM. 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. Zacks Research lowered shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. Royal Bank Of Canada dropped their target price on 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. UBS Group reduced their price target on Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Weiss Ratings cut Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.60.

About Silver Standard Resources

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.