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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Stock analysts at Cormark raised their Q1 2024 EPS estimates for SSR Mining in a research note issued 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 prior forecast of ($0.30). The consensus estimate for SSR Mining’s current full-year earnings is $0.48 per share.

A number of other brokerages also recently commented on SSRM. Desjardins downgraded SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. TD Securities downgraded SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. UBS Group downgraded SSR Mining from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $17.00 to $5.00 in a research report on Thursday, February 22nd. Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 14th. Finally, National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. 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, the company currently has an average rating of “Hold” and a consensus price target of $6.63.

SSR Mining Stock Up 3.0 %

Shares of SSR Mining stock opened at $5.37 on Wednesday. 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 current ratio of 7.01 and a quick ratio of 3.99. The business has a 50-day simple moving average of $4.59 and a 200-day simple moving average of $8.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results 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. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. The company had revenue of $425.90 million for the quarter. During the same quarter last year, the company earned $0.12 earnings per share.

Institutional Investors Weigh In On SSR Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in SSR Mining by 178.5% in the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after buying an additional 3,926 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in SSR Mining in the fourth quarter valued at approximately $40,000. Wedmont Private Capital purchased a new stake in SSR Mining in the first quarter valued at approximately $81,000. International Assets Investment Management LLC purchased a new stake in SSR Mining in the fourth quarter valued at approximately $111,000. Finally, Headlands Technologies LLC purchased a new stake in SSR Mining in the fourth quarter valued at approximately $120,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.