Summary
Silver Standard Resources Inc. is engaged in the exploration of silver properties in Argentina, Australia, Canada, Chile, Mexico, Peru and the United States, and the acquisition of silver properties, if warranted, throughout the world. It is an exploration-stage company and none of its properties are beyond the advanced exploration stage. The Company has two principal mineral property interests, the Pirquitas Project in the Province of Jujuy and the Pitarrilla Project in Durango State. It has four secondary mineral property interests: the Bowdens Project in Australia, the Shafter Silver Project in Texas, a 50% interest in the San Luis Project located in the Ancash Department of Peru and a 50% interest in the Manantial Espejo Project in Argentina. It also has nine tertiary mineral property interests and has two long-term property interests. In January 2006, the Company completed the acquisition of all of the shares of Sociedad Minera Berenguela S.A.
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Silver Standard Resources Dropped To Over A 2-Month Low [SSRI]
10/3/2006 4:21:10 PM Silver Standard Resources (SSRI) gapped down Tuesday and gradually declined for the bulk of the session. The stock finished lower by 2.06 at $19.67 on above average volume.
Silver Standard Resources fell below a 3-week range, to set over a 2-month low.
Silver Standard Resources Has Climbed To A 7-Week High [SSRI]
10/31/2006 10:42:18 AM Silver Standard Resources (SSRI) gapped up slightly this morning and has since climbed gradually higher. The stock is now up 1.07 at $24.56.
Silver Standard Resources has been climbing for the last week and a half and is now trading at 7-week high.
Silver Standard Resources Posts Q3 EPS Compared To Breakeven Last Year - Update [SSRI]
11/8/2006 7:10:01 AM Wednesday morning, Silver Standard Resources Inc. (SSO.TO, SSRI) announced third quarter earnings compared to breakeven last year.
The company said net earnings for the third quarter of 2006 rose to C$2.7 million or C$0.04 per share from C$21 thousand or C$0.00 per share for the third quarter of 2005. 2 analysts expected the company to incur a loss of $0.03 per share for the quarter. Silver Standard said earnings in the third quarter of 2006 were positively impacted by increased interest income from funds available for investment following the public offering in May 2006 as well as the write-up of marketable securities from the end of the second quarter 2006.
The company said cash generated by operating activities amounted to C$1.14 million compared to C$0.62 million cash used in the prior year period. Cash generated by financing activities amounted to C$1.58 million compared to C$0.36 million in the same quarter of the previous year. Silver said cash used in investing activities increased to C$9.5 million from C$4.9 million in the year-ago quarter.
Subsequent to the end of the quarter, the company announced a decision to proceed with the development of the mine at Pirquitas, Argentina. Based on the feasibility study update, capital costs are estimated at US$146 million plus IVA and construction will be completed within 21 - 24 months.
At Pitarrilla, Mexico, drilling continues with four diamond drill rigs on the property. At San Luis, Peru Diamond drilling commenced during the third quarter and the San Luis joint venture reported results from the first four holes into the Ayelen Vein subsequent to the end of the quarter.
Silver Standard said it is updating scoping studies for its wholly owned Diablillos silver-gold project in Argentina and the Bowdens silver project in Australia. The company has also completed over 6 thousand meters of a planned 15 thousand meter drill program at its Snowfields gold property in northern British Columbia
For the nine months ended September 30, 2006, net earnings were C$18.1 million or C$0.31 per share, compared to a net loss of C$2.0 million or C$0.04 loss per share for the comparable period in 2005. Cash used in the nine-month period amounted to C$1.22 million compared with C$1.15 million in the corresponding period of the previous year.
SSO.TO closed Tuesday's regular trading session at C$27.92 and SSRI at $24.69.
Silver Standard Resources Has Broken Out To A 2-Month High [SSRI]
11/9/2006 11:44:18 AM Silver Standard Resources (SSRI) gapped up and advanced slightly at the open Thursday, and has climbed further over the last 15 minutes, with volume beginning to accelerate. The stock is up 1.12 at $25.69.
Silver Standard Resources has broken out of a week and a half long range and is trading at a 2-month high.
October 31 (newratings.com) - Analysts at Bear Stearns initiate coverage of Silver Standard Resources Inc (ticker: SSRI) with a "peer perform" rating.
December 1 (newratings.com) - Analyst Craig West of UBS downgrades Silver Standard Resources Inc (ticker: SSRI) from "buy" to "neutral." The target price has been raised from $28.50 to $33.
In a research note published this morning, the analyst mentions that the company’s share price has appreciated by more than 43% since the beginning of 4Q. Silver Standard Resources’ San Luis joint venture project in Peru has delivered encouraging drill results, the analyst says. The company’s key catalysts for future growth comprise of Pirquitas, Pitarilla and San Luis, UBS adds. The upward revision in the target price reflects the San Luis joint venture and the Snowfield gold deposit in British Colombia, according to the analyst.
December 12 (newratings.com) - Analysts at UBS maintain their "neutral" rating on Silver Standard Resources (ticker: SSRI). The target price has been raised from $33 to $34.
In a research note published this morning, the analysts mention that the company has reported an initial resource estimate of 2.35 million ounces of gold for the Snowfield gold/molybdenum project, which is above the estimates. The analysts say that there is significant upside potential to the initial estimate for the Snowfield project. Silver Standard Resources' balance sheet is robust, the analysts add.
1/4/07: UBS Securities upgrades Silver Standard to 'buy'
Silver Standard Resources Inc. (SSO-TSX, SSRI-Nasdaq) is having continued exploration success at its 55-per-cent-owned San Luis gold and silver joint venture in Peru and has been upgraded to "buy" from "neutral" by Craig West, an analyst with UBS Securities LLC.
The shares of the Vancouver-based exploration company reached a record high yesterday of $31.78 (U.S.), but closed at $30.13, down 61 cents on the Nasdaq Stock Market. The assets include $5.62 a share in cash and equity interests. UBS has a 12-month share price target of $38, up from its previous target of $34.
Silver Standard Resources has one of the largest silver resources of any publicly traded silver company and it is developing and constructing the Pirquitas project in Argentina. It has 16 projects in North America, South America and Australia.
Blackmont Raises Silver Standard Price Target By C$10
Posted on Apr 10th, 2007 with stocks: SSRI
 FP Trading Desk submits: Silver Standard Resources Inc.'s (SSRI) latest resource estimate at its Pitarrilla project in Mexico jumped an impressive 27% from its August forecast, to 544 million ounces of silver, according to a research note from Blackmont analyst Richard Gray.
"Pitarrilla is proving to be a significant asset for Silver Standard with further resource growth expected as over 60,000 metres of drilling is expected in 2007, Mr. Gray said, adding the new resource also included a base metal component of 2.37 billion pounds of zinc and 1.04 billion pounds of lead.
He increased his price target on the stock from C$45 to C$55 and left his 'buy' rating unchanged.
Silver Standard Resources: Outperforming Silver Prices
Posted on Apr 16th, 2007 with stocks: SSRI
Sam Kirtley submits: Having almost doubled since our purchase in July, we are obviously very pleased with the progress being made by Silver Standard Resources (SSRI).
Silver Standard is a fairly large silver mining company, with a market cap of about $2.25 billion. It now controls the worlds largest published in-ground silver resources of any publicly traded silver company. Like many mining stocks, the PE of Silver Standard is quite high, currently at about 34. However with stocks like this the earnings are of little consequence as the increase in shareholder value is the most important part, and this is the area that will generate the majority of the profit, not earnings.
That said, the financial position of Silver Standard is improving and their earnings are increasing. In 2005 Silver Standard generated $70.89 million in revenue, but is 2006 it generated $158.54 million in revenue. In just one year, the revenue for SSRI has more than doubled! With the increase in revenue, profits are also increasing, with SSRI making a gross profit of $33 million in 2005 but $105.77 million in 2006, tripling their profits in only a year. This also shows that Silver Standard’s profit margins are increasing, as revenue increased 123% while gross profit increased nearly 220%! Therefore, with ever increasing revenue from the sale of silver at higher and higher prices, Silver Standard profits will go through the roof, along with their stock price.
To some, Silver Standard’s size may be viewed as a negative aspect of the company, as some investors may view SSRI as too large and therefore unable to offer enough leverage to silver prices. Although it is true that many smaller silver stocks can rise more dramatically than SSRI, volatility works both ways and these small stocks that shoot up can easily be shot right back down to where they started, or even lower.
SSRI offers quality silver mining projects, a strong management team and a stable stock price that is rising with silver prices and even outperforming them.
It is key that silver stocks outperform silver prices, which is why we are investing our hard earned money in them. However, what is more important is that they rise with silver prices. This is imperative as you may own a junior silver company with all the potential in the world, but if its stock price is not moving up with silver prices, it is not worth owning. It is fine to own a few speculative explorers on the off chance that they go to the moon, but the majority of our capital invested in silver should be in companies that will follow silver and outperform it all the way up. If you don’t have some silver stocks that are moving with silver prices, then it is possible that you will watch silver prices go all the way up into the sky, and yet your stocks would not rise due to the fact that the market is not sure that they have any silver reserves/any commercially viable silver/any silver that can be mined in time to take advantage of the current bull market in silver.
Silver stocks like SSRI are key to a good silver portfolio, as you know that they are going to rise with silver prices and that they will perform better than them. |
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