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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Analysts at Desjardins issued their Q1 2024 earnings estimates for shares of SSR Mining in a research note issued on Tuesday, April 23rd. Desjardins analyst J. Egilo forecasts that the basic materials company will post earnings per share of ($0.04) for the quarter. Desjardins currently 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 announced its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating 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 business had revenue of $425.90 million during the quarter. During the same quarter in the prior year, the business earned $0.12 EPS.

Several other research firms also recently weighed in on SSRM. CIBC downgraded shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and dropped their target price for the company from $18.50 to $6.00 in a report on Wednesday, February 14th. TheStreet downgraded shares of SSR Mining from a “c” rating to a “d” rating in a report on Wednesday, February 28th. UBS Group downgraded shares of SSR Mining from a “buy” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $5.00 in a report on Thursday, February 22nd. TD Securities downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Scotiabank downgraded shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.63.

SSR Mining Stock Performance

NASDAQ:SSRM opened at $5.57 on Thursday. The company has a current ratio of 7.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $4.63 and a two-hundred day moving average price of $8.81. SSR Mining has a twelve month low of $3.76 and a twelve month high of $17.72. The company has a market capitalization of $1.12 billion, a P/E ratio of -10.92, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

Institutional Investors Weigh In On SSR Mining

Several hedge funds have recently modified their holdings of SSRM. IFP Advisors Inc acquired a new stake in shares of SSR Mining in the third quarter worth approximately $221,000. SG Americas Securities LLC acquired a new stake in shares of SSR Mining in the third quarter worth approximately $262,000. Oak Thistle LLC acquired a new stake in shares of SSR Mining in the third quarter worth approximately $485,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of SSR Mining by 6.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 32,911 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 1,970 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of SSR Mining by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,248 shares of the basic materials company’s stock worth $564,000 after acquiring an additional 5,033 shares during the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

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.