SSR Mining Inc. (NASDAQ:SSRM) Forecasted to Earn Q1 2024 Earnings of $0.05 Per Share

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Investment analysts at National Bank Financial issued their Q1 2024 EPS estimates for SSR Mining in a report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin anticipates that the basic materials company will post earnings of $0.05 per share for the quarter. National Bank Financial has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for SSR Mining’s current full-year earnings is $0.22 per share.

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

SSR Mining Price Performance

Shares of SSR Mining stock opened at $5.21 on Monday. SSR Mining has a one year low of $3.76 and a one year high of $17.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01. The stock has a 50 day moving average price of $4.57 and a 200-day moving average price of $8.97. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -10.22, a price-to-earnings-growth ratio of 1.39 and a beta of 0.82.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.23. The firm 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 last year, the company earned $0.12 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSRM. Van ECK Associates Corp raised its stake in SSR Mining by 0.9% during the 3rd quarter. Van ECK Associates Corp now owns 21,178,035 shares of the basic materials company’s stock worth $281,455,000 after acquiring an additional 180,685 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of SSR Mining by 1.1% in the third quarter. Vanguard Group Inc. now owns 7,686,085 shares of the basic materials company’s stock valued at $102,148,000 after buying an additional 80,649 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of SSR Mining during the fourth quarter worth about $50,352,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of SSR Mining by 3.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,644,819 shares of the basic materials company’s stock worth $48,455,000 after buying an additional 111,218 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in SSR Mining by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 3,397,212 shares of the basic materials company’s stock valued at $36,470,000 after acquiring an additional 18,503 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Company Profile

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.