Silver Standard Resources (NASDAQ:SSRM) Announces Earnings Results, Misses Expectations By $0.01 EPS

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) issued its earnings results on Tuesday. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01), Zacks reports. 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 Down 1.5%

Shares of SSRM traded down $0.41 during trading hours on Tuesday, reaching $26.58. 4,765,732 shares of the company traded hands, compared to its average volume of 2,967,045. The company’s fifty day moving average price is $28.23 and its two-hundred day moving average price is $28.71. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 5.55 and a beta of -0.09. The company has a quick ratio of 4.57, a current ratio of 5.33 and a debt-to-equity ratio of 0.01. Silver Standard Resources has a 12 month low of $12.43 and a 12 month high of $36.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Silver Standard Resources in the 1st quarter worth approximately $50,000. AQR Capital Management LLC grew its stake in Silver Standard Resources by 461.5% in the first quarter. AQR Capital Management LLC now owns 86,050 shares of the basic materials company’s stock worth $863,000 after purchasing an additional 70,726 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 worth $4,113,000 after purchasing an additional 201,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Silver Standard Resources by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company’s stock worth $24,895,000 after purchasing 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

A number of analysts have commented on SSRM shares. Royal Bank Of Canada cut their price target on shares of Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Zacks Research cut Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. UBS Group lowered their target price on Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Bank of America dropped their price target on Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen cut Silver Standard Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Silver Standard Resources currently has an average rating of “Moderate Buy” and a consensus target price of $41.60.

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.