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

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) issued its earnings results on Tuesday. The basic materials company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01, Zacks reports. Silver Standard Resources had a net margin of 12.30% and a return on equity of 16.17%. The firm had revenue of $447.65 million for the quarter, compared to analyst estimates of $454.47 million.

Here are the key takeaways from Silver Standard Resources’ conference call:

• Full-year all-in sustaining costs are now expected to be about 10% above the top end of guidance, driven by Puna mine-plan changes, higher royalties, diesel, labor and consumable costs. Expiring diesel hedges could add another $100–$150 per ounce to consolidated AISC at current prices.
• Production remains on track for full-year guidance, with a particularly strong fourth quarter expected at Marigold. Higher solution-flow capacity, existing leach-pad inventory and planned inventory drawdown are expected to support Marigold’s Q4 output.
• The updated Marigold mine plan increased total production by more than 50% and extended reserve life to 20 years, with average annual production above 200,000 ounces through 2040. The planned Buffalo Valley development is expected to begin in 2027, with first production targeted for 2029.
• SSR Mining reported a strong liquidity position with approximately $1.6 billion in cash, no debt and $2.2 billion of total liquidity, while returning more than $530 million through share repurchases and dividends during the first nine months. The company expects to close its Roxmore Resources acquisition by year-end, adding the adjacent Converse project to its U.S. growth platform.
• Third-quarter revenue was $448 million, adjusted EPS was $0.64 and free cash flow before working-capital changes was approximately $111 million. Results included a $43.5 million after-tax, non-cash reclamation charge related to Puna water management and tailings storage, which was excluded from adjusted earnings.

Silver Standard Resources Stock Up 3.4%

Shares of NASDAQ SSRM traded up $0.88 during trading on Wednesday, reaching $27.04. The company had a trading volume of 821,110 shares, compared to its average volume of 3,298,340. The stock has a market cap of $5.45 billion, a P/E ratio of 24.55, a PEG ratio of 5.65 and a beta of -0.09. The company’s fifty day moving average price is $33.91 and its 200-day moving average price is $30.31. Silver Standard Resources has a 12 month low of $18.19 and a 12 month high of $39.44.

Silver Standard Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, November 13th. Silver Standard Resources’s payout ratio is 10.91%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Zacks Research downgraded Silver Standard Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Weiss Ratings downgraded Silver Standard Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Canadian Imperial Bank of Commerce upped their price objective on Silver Standard Resources from $48.00 to $50.00 and gave the company an “outperformer” rating in a research note on Monday, October 5th. Royal Bank Of Canada raised their price objective on shares of Silver Standard Resources from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Finally, Wall Street Zen downgraded shares of Silver Standard Resources from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Silver Standard Resources presently has an average rating of “Moderate Buy” and a consensus price target of $42.60.

About Silver Standard Resources

Silver Standard Resources, now known as SSR Mining Inc (NASDAQ: SSRM), is a precious metals mining company focused primarily on the exploration, development and production of gold and silver. The company’s operations have included open-pit and underground mines, processing facilities and exploration properties in the Americas and Türkiye.

SSR Mining has historically operated the Marigold gold mine in Nevada, the Seabee gold operation in Saskatchewan, Canada, and the Puna silver-lead-zinc complex in Jujuy, Argentina.