Silver Standard Resources (NASDAQ:SSRM – Get Free Report) (TSE:SSO) issued its earnings results on Tuesday. The basic materials company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01), Zacks reports. The firm had revenue of $443.80 million during the quarter, compared to the consensus estimate of $483.84 million. Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%.
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 Trading Up 9.7%
SSRM stock traded up $2.59 during midday trading on Wednesday, hitting $29.17. 3,080,347 shares of the company’s stock were exchanged, compared to its average volume of 3,678,496. The stock’s fifty day moving average price is $28.23 and its 200-day moving average price is $28.71. Silver Standard Resources has a one year low of $13.66 and a one year high of $36.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.57 and a current ratio of 5.33. The company has a market cap of $6.02 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 5.55 and a beta of -0.09.
Silver Standard Resources Announces Dividend
Wall Street Analysts Forecast Growth
SSRM has been the subject of several analyst reports. Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. Royal Bank Of Canada reduced their price objective on Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings cut Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. 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 research report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Silver Standard Resources presently has an average rating of “Moderate Buy” and an average target price of $41.60.
Check Out Our Latest Research Report on Silver Standard Resources
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its position in Silver Standard Resources by 461.5% in the 1st quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock valued at $863,000 after buying an additional 70,726 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Silver Standard Resources by 27.1% during 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Silver Standard Resources by 96.6% in the first 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 valued at $4,113,000 after purchasing an additional 201,525 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Silver Standard Resources in the first quarter valued at approximately $50,000. 68.30% of the stock is owned by institutional investors and hedge funds.
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.
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