SSR Mining Inc. Forecasted to Post FY2023 Earnings of $1.42 Per Share (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM – Get Rating) (TSE:SSO) – Equities researchers at National Bank Financial lowered their FY2023 earnings per share estimates for SSR Mining in a research report issued on Tuesday, February 28th. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will post earnings of $1.42 per share for the year, down from their prior estimate of $1.54. The consensus estimate for SSR Mining’s current full-year earnings is $1.13 per share. National Bank Financial also issued estimates for SSR Mining’s FY2024 earnings at $1.16 EPS.

SSRM has been the topic of several other reports. Scotiabank reduced their price objective on SSR Mining from C$30.00 to C$29.50 in a research report on Wednesday, January 18th. Canaccord Genuity Group lowered their target price on SSR Mining from C$26.00 to C$25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 9th. TD Securities reduced their target price on SSR Mining from C$36.00 to C$33.00 in a report on Monday, February 13th. Finally, BMO Capital Markets lowered their price target on SSR Mining from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, February 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.67.

SSR Mining Stock Down 0.6 %

Shares of NASDAQ SSRM opened at $13.75 on Thursday. The business’s fifty day moving average price is $15.84 and its 200-day moving average price is $14.89. The stock has a market capitalization of $2.84 billion, a PE ratio of 15.45, a P/E/G ratio of 4.04 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 3.13. SSR Mining has a one year low of $12.84 and a one year high of $24.58.

Hedge Funds Weigh In On SSR Mining

Several large investors have recently made changes to their positions in the business. Voya Investment Management LLC lifted its stake in SSR Mining by 4.2% in the 4th quarter. Voya Investment Management LLC now owns 28,427 shares of the basic materials company’s stock worth $445,000 after purchasing an additional 1,134 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in SSR Mining by 6.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 639,936 shares of the basic materials company’s stock valued at $10,006,000 after buying an additional 39,936 shares during the period. Alliancebernstein L.P. lifted its holdings in SSR Mining by 22.9% during the fourth quarter. Alliancebernstein L.P. now owns 97,656 shares of the basic materials company’s stock valued at $1,530,000 after purchasing an additional 18,179 shares in the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of SSR Mining by 33.2% in the fourth quarter. Chartwell Investment Partners LLC now owns 440,835 shares of the basic materials company’s stock worth $6,908,000 after buying an additional 110,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of SSR Mining by 54.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 158,185 shares of the basic materials company’s stock valued at $2,479,000 after acquiring an additional 55,650 shares during the last quarter. 57.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SSR Mining

In other news, insider Michael John Sparks sold 3,239 shares of SSR Mining stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $16.61, for a total value of $53,799.79. Following the sale, the insider now directly owns 126,739 shares in the company, valued at $2,105,134.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael John Sparks sold 3,239 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $16.61, for a total value of $53,799.79. Following the completion of the transaction, the insider now owns 126,739 shares of the company’s stock, valued at $2,105,134.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rodney Antal sold 15,777 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $16.61, for a total transaction of $262,055.97. Following the transaction, the chief executive officer now owns 756,337 shares in the company, valued at approximately $12,562,757.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,686 shares of company stock worth $326,984. 0.51% of the stock is currently owned by company insiders.

SSR Mining Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Friday, March 3rd will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, March 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.04%. SSR Mining’s dividend payout ratio is currently 31.46%.

About SSR Mining

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SSR Mining, Inc is a gold company. It engages in the operation, development, exploration, and acquisition of metal resource properties located in Turkey and the Americas. The firm operates through the following segments: Copler, Marigold, Seabee, Puna and the exploration, evaluation and development properties.