Silver Standard Resources (NASDAQ:SSRM) Stock Falls 4.9% - What's Next?

Key Points

• SSRM shares fell 4.9% to approximately $33.69, with trading volume down 92% from the stock’s average daily volume.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $42.80, despite mixed target-price revisions.
• The company slightly missed quarterly earnings and revenue expectations, reporting EPS of $0.66 versus $0.67 expected and revenue of $443.8 million versus $483.84 million expected. SSRM also pays a quarterly dividend of C$0.03 per share, yielding about 0.4%.

Silver Standard Resources Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO's share price dropped 4.9% during trading on Tuesday. The company traded as low as $34.29 and last traded at $33.6940. Approximately 272,712 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 3,380,723 shares. The stock had previously closed at $35.44.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SSRM. Wall Street Zen downgraded Silver Standard Resources from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. UBS Group decreased their target price on shares of Silver Standard Resources from $43.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada increased their price target on Silver Standard Resources from $39.00 to $43.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. Weiss Ratings raised Silver Standard Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Silver Standard Resources from $48.00 to $50.00 and gave the stock an "outperformer" rating in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $42.80.

Silver Standard Resources Stock Performance

The company has a market cap of $6.58 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 7.41 and a beta of -0.10. The business has a 50 day moving average price of $34.96 and a two-hundred day moving average price of $31.45.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO last posted its earnings results on Tuesday, August 4th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $443.80 million for the quarter, compared to analysts' expectations of $483.84 million. Silver Standard Resources had a net margin of 12.30% and a return on equity of 16.17%. As a group, research analysts expect that Silver Standard Resources Inc. will post 3.87 EPS for the current year.

Silver Standard Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 14th were issued a dividend of C$0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 14th. Silver Standard Resources's payout ratio is presently 10.91%.

Silver Standard Resources Company Profile

Silver Standard Resources Inc was a precious-metals mining company focused on the acquisition, development and operation of silver and gold properties. The company produced silver and gold concentrates and worked to advance exploration and development projects in the Americas and other mining jurisdictions.

In 2017, Silver Standard Resources merged with Claude Resources Inc and changed its name to SSR Mining Inc The combined company expanded its portfolio to include the Seabee gold operation in Saskatchewan, Canada, and the Marigold gold mine in Nevada, while continuing to develop and operate precious-metals assets in Latin America.

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