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

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) announced its quarterly earnings results on Tuesday. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping 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%.

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 Price Performance

Shares of NASDAQ:SSRM traded down $0.58 during trading on Tuesday, hitting $26.16. The company had a trading volume of 1,956,619 shares, compared to its average volume of 3,313,506. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 6.27 and a beta of -0.10. The company has a fifty day simple moving average of $34.16 and a two-hundred day simple moving average of $30.30. Silver Standard Resources has a one year low of $18.19 and a one year high of $39.44.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Bank of America cut their price target on shares of Silver Standard Resources from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce upped their price target on shares of Silver Standard Resources from $48.00 to $50.00 and gave the company an “outperformer” rating in a research report on Monday, October 5th. Royal Bank Of Canada raised their target price on Silver Standard Resources from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Zacks Research downgraded shares of Silver Standard Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Finally, Wall Street Zen downgraded 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 assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.