Silver Standard Resources Inc. to Issue Quarterly Dividend of C$0.03 (NASDAQ:SSRM)

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Friday, August 14th will be given a dividend of 0.03 per share by the basic materials company on Friday, September 11th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, August 14th.

Silver Standard Resources has a payout ratio of 6.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Silver Standard Resources to earn $4.16 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 3.4%.

Silver Standard Resources Stock Up 6.1%

SSRM stock opened at $28.19 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.33 and a quick ratio of 4.57. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 5.55 and a beta of -0.09. The business’s fifty day moving average price is $28.23 and its two-hundred day moving average price is $28.71. Silver Standard Resources has a fifty-two week low of $13.66 and a fifty-two week high of $36.51.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, August 4th. The basic materials company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Silver Standard Resources had a return on equity of 14.87% and a net margin of 12.17%.The business had revenue of $443.80 million for the quarter, compared to the consensus estimate of $483.84 million. On average, equities analysts anticipate that Silver Standard Resources will post 3.92 earnings per share for the current year.

Institutional Investors Weigh In On Silver Standard Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in Silver Standard Resources in the 1st quarter worth about $50,000. AQR Capital Management LLC boosted its stake 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 valued at $863,000 after purchasing an additional 70,726 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 purchasing an additional 201,525 shares during the last quarter. Finally, 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 purchasing an additional 529,035 shares during the last quarter. Institutional investors own 68.30% of the company’s stock.

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.