Desjardins Weighs in on SSR Mining Inc.’s Q1 2024 Earnings (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Desjardins issued their Q1 2024 earnings estimates for SSR Mining in a research note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Egilo anticipates that the basic materials company will post earnings of ($0.04) per share for the quarter. Desjardins has a “Hold” rating on the stock. The consensus estimate for SSR Mining’s current full-year earnings is $0.18 per share.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 EPS.

A number of other equities analysts have also weighed in on SSRM. Scotiabank lowered shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. Royal Bank of Canada restated an “underperform” rating and issued a $3.00 target price (down from $6.00) on shares of SSR Mining in a report on Tuesday, February 20th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. TD Securities downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, TheStreet downgraded shares of SSR Mining from a “c” rating to a “d” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.63.

SSR Mining Stock Performance

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

Institutional Investors Weigh In On SSR Mining

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in SSR Mining by 321.9% during the third quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock worth $8,599,000 after buying an additional 493,695 shares during the period. Scotia Capital Inc. boosted its stake in shares of SSR Mining by 210.5% in the third quarter. Scotia Capital Inc. now owns 351,768 shares of the basic materials company’s stock valued at $4,660,000 after purchasing an additional 238,481 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of SSR Mining in the fourth quarter valued at $50,352,000. Hsbc Holdings PLC purchased a new position in shares of SSR Mining in the third quarter valued at $259,000. Finally, U S Global Investors Inc. purchased a new position in shares of SSR Mining in the fourth quarter valued at $3,405,000. 68.30% of the stock is currently owned by hedge funds and other 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.