Silver Standard Resources Inc. (NASDAQ:SSRM) Shareholders to Collect $0.03 Quarterly Dividend

Silver Standard Resources Inc. (NASDAQ:SSRM) (TSE:SSO) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Friday, November 13th will be given a dividend of $0.03 per share by the basic materials company on Friday, December 11th. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, November 13th.

Silver Standard Resources has a payout ratio of 5.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Silver Standard Resources to earn $2.94 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 4.1%.

Silver Standard Resources Price Performance

Shares of NASDAQ SSRM opened at $26.16 on Wednesday. Silver Standard Resources has a 1 year low of $18.19 and a 1 year high of $39.44. The firm has a fifty day moving average price of $33.91 and a 200-day moving average price of $30.31. The stock has a market cap of $5.27 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 5.65 and a beta of -0.09.

Silver Standard Resources (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, November 3rd. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $447.65 million for the quarter, compared to the consensus estimate of $454.47 million. Silver Standard Resources had a return on equity of 16.17% and a net margin of 12.30%. On average, research analysts expect that Silver Standard Resources will post 3.82 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Silver Standard Resources from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. UBS Group cut their price objective on shares of Silver Standard Resources from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Zacks Research downgraded Silver Standard Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Canadian Imperial Bank of Commerce upped their price objective on shares of Silver Standard Resources from $48.00 to $50.00 and gave the company an “outperformer” rating in a report on Monday, October 5th. Finally, Wall Street Zen cut Silver Standard Resources from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.