Silver Standard Resources (NASDAQ:SSRM) Announces Quarterly Earnings Results

Key Points

• Silver Standard reported $999.00 earnings per share for the quarter, beating the consensus $0.81 estimate by $998.19, and posted a net margin of 24.28% with a return on equity of 10.40%.
• Shares traded at $28.25 after the report; the company has a market capitalization of $6.12 billion and a P/E of 15.27, while analysts hold a consensus Buy rating with a $37.25 target (some firms recently raised targets to $42 and upgraded ratings).
• Institutional investors increased positions—Goldman Sachs, UBS and AQR added shares—and institutions now own about 68.3% of the stock.

Silver Standard Resources (NASDAQ:SSRM - Get Free Report) TSE: SSO released its earnings results on Tuesday. The basic materials company reported $999.00 earnings per share for the quarter, topping 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 Stock Performance

NASDAQ SSRM traded down $0.09 on Tuesday, hitting $28.25. 2,213,249 shares of the company's stock traded hands, 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. Silver Standard Resources has a 1-year low of $10.19 and a 1-year high of $36.51. The firm's 50-day moving average price is $29.83 and its two-hundred day moving average price is $25.47. The firm has a market capitalization of $6.12 billion, a PE ratio of 15.27, a P/E/G ratio of 0.41 and a beta of -0.17.

Institutional Trading of Silver Standard Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its stake in Silver Standard Resources by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company's stock valued at $24,895,000 after acquiring an additional 529,035 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Silver Standard Resources by 96.6% in the 1st 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 valued at $4,113,000 after purchasing an additional 201,525 shares during the period. AQR Capital Management LLC lifted its stake in shares of Silver Standard Resources by 461.5% in the 1st 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 during the period. Finally, Strs Ohio acquired a new position in shares of Silver Standard Resources in the 1st quarter valued at $50,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on SSRM. TD Securities raised shares of Silver Standard Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 22nd. TD Cowen raised shares of Silver Standard Resources from a "hold" rating to a "buy" rating in a research report on Thursday, January 22nd. UBS Group boosted their target price 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. Zacks Research raised shares of Silver Standard Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, Wall Street Zen cut shares of Silver Standard Resources from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 18th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $37.25.

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.

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