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

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) released its quarterly earnings data 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. Silver Standard Resources had a net margin of 12.17% and a return on equity of 14.87%.

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 Performance

Shares of NASDAQ SSRM traded down $0.41 during mid-day trading on Tuesday, reaching $26.58. 4,765,732 shares of the company were exchanged, compared to its average volume of 2,967,045. The stock has a market capitalization of $5.49 billion, a P/E ratio of 25.31, a P/E/G 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. The company’s 50-day simple moving average is $28.23 and its 200-day simple moving average is $28.71. Silver Standard Resources has a twelve month low of $12.43 and a twelve month high of $36.51.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted 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 acquiring an additional 70,726 shares during the period. Goldman Sachs Group Inc. grew its position in shares of 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 valued at $24,895,000 after purchasing an additional 529,035 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 period. Finally, Strs Ohio bought a new position in shares of Silver Standard Resources during the first quarter worth approximately $50,000. 68.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SSRM. Royal Bank Of Canada lowered their target price on shares of Silver Standard Resources from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut shares of Silver Standard Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 15th. Zacks Research downgraded shares of Silver Standard Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. Bank of America lowered their price objective on shares of 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, UBS Group dropped their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. One research 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 data from MarketBeat, Silver Standard Resources 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.