SSR Mining Inc. (NASDAQ:SSRM) to Post Q1 2024 Earnings of ($0.28) Per Share, Cormark Forecasts

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Research analysts at Cormark boosted their Q1 2024 earnings per share (EPS) estimates for shares of SSR Mining in a report released on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the basic materials company will earn ($0.28) per share for the quarter, up from their previous estimate of ($0.30). The consensus estimate for SSR Mining’s current full-year earnings is $0.18 per share.

Several other analysts also recently weighed in on the company. Royal Bank of Canada reiterated an “underperform” rating and issued a $3.00 price objective (down previously from $6.00) on shares of SSR Mining in a research report on Tuesday, February 20th. Desjardins cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. UBS Group downgraded shares of SSR Mining from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $5.00 in a research note on Thursday, February 22nd. CIBC cut SSR Mining from a “sector outperform” rating to a “neutral” rating and cut their target price for the stock from $18.50 to $6.00 in a research note on Wednesday, February 14th. Finally, Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.63.

SSR Mining Trading Up 0.9 %

NASDAQ SSRM opened at $5.52 on Wednesday. The stock has a 50-day moving average of $4.62 and a 200-day moving average of $8.87. The company has a current ratio of 7.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.07. SSR Mining has a 1-year low of $3.76 and a 1-year high of $17.72. The firm has a market cap of $1.11 billion, a PE ratio of -10.82, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.23. The business had revenue of $425.90 million during the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same period in the prior year, the firm earned $0.12 earnings per share.

Hedge Funds Weigh In On SSR Mining

A number of institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its position in SSR Mining by 178.5% during the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 3,926 shares in the last quarter. Creekmur Asset Management LLC purchased a new stake in SSR Mining in the fourth quarter worth $40,000. Simplicity Wealth LLC purchased a new stake in SSR Mining in the first quarter worth $72,000. Wedmont Private Capital bought a new position in SSR Mining in the first quarter worth $81,000. Finally, International Assets Investment Management LLC purchased a new position in SSR Mining during the fourth quarter valued at $111,000. 68.30% of the stock is owned by institutional investors.

About SSR Mining

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.