BMO Capital Markets: 4Q/11 EPS Beat for Silver Standard Resources
In a research report published today by BMO Capital Markets, Silver Standard Resources' (NASDAQ: SSRI) 4Q/11 silver sales of 515koz were above BMO's predicted 475koz.
According to BMO Capital Markets, “While the company noted an inventory of ~3.2Moz contained silver at year-end (versus BMO Research's estimate of ~2.0Moz), the timing as to when the company will sell these stored ounces is uncertain. Accordingly, BMO Research's 2012 EPS and CFPS estimates remain largely unchanged at US$0.25 and US$0.86 (US$0.26 and US$0.88, previously).”
BMO Capital Markets maintains its Market Perform rating and $18.50 PT on Silver Standard Resources, which closed yesterday at $15.48.
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Tags: BMO Capital Markets