Silver Standard Resources (NASDAQ:SSRM) Posts Quarterly Earnings Results, Beats Estimates By $998.19 EPS

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) posted its earnings results on Tuesday. The basic materials company reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $998.19, Zacks reports. Silver Standard Resources had a net margin of 24.28% and a return on equity of 10.40%.

Silver Standard Resources Price Performance

NASDAQ:SSRM traded down $0.09 during trading hours on Tuesday, reaching $28.25. 2,213,249 shares of the company were exchanged, compared to its average volume of 4,027,323. The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average is $29.83 and its 200-day moving average is $25.47. The firm has a market cap of $6.12 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 0.41 and a beta of -0.17. Silver Standard Resources has a twelve month low of $10.19 and a twelve month high of $36.51.

Analyst Ratings Changes

Several equities analysts recently issued reports on SSRM shares. TD Securities upgraded shares of Silver Standard Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. National Bank Financial upgraded shares of Silver Standard Resources from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, March 4th. BMO Capital Markets upgraded shares of Silver Standard Resources from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research report on Thursday, March 5th. Canadian Imperial Bank of Commerce upgraded shares of Silver Standard Resources from a “neutral” rating to a “sector outperform” rating and set a $48.00 price objective for the company in a research report on Thursday, March 12th. Finally, UBS Group upped their price objective on shares of Silver Standard Resources from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. According to MarketBeat, Silver Standard Resources has a consensus rating of “Buy” and a consensus target price of $37.25.

Institutional Investors Weigh In On Silver Standard Resources

A number of large investors have recently modified their holdings of SSRM. AQR Capital Management LLC grew its holdings in shares of Silver Standard Resources by 461.5% during the first 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 in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 worth $24,895,000 after buying an additional 529,035 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Silver Standard Resources by 96.6% during 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 buying an additional 201,525 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Silver Standard Resources during the first quarter worth $50,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.