SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO - Equities research analysts at Cormark upped their Q1 2024 earnings per share estimates for SSR Mining in a report issued on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of ($0.28) per share for the quarter, up from their prior estimate of ($0.30). The consensus estimate for SSR Mining's current full-year earnings is $0.48 per share.
SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The company had revenue of $425.90 million for the quarter. During the same quarter last year, the business posted $0.12 earnings per share.
Other analysts also recently issued research reports about the stock. CIBC downgraded shares of SSR Mining from a "sector outperform" rating to a "neutral" rating and lowered their target price for the company from $18.50 to $6.00 in a report on Wednesday, February 14th. TheStreet downgraded SSR Mining from a "c" rating to a "d" rating in a research note on Wednesday, February 28th. Desjardins downgraded SSR Mining from a "buy" rating to a "hold" rating in a research note on Wednesday, February 28th. National Bank Financial reiterated a "sector perform spec overwgt" rating on shares of SSR Mining in a research report on Monday, April 8th. Finally, Scotiabank lowered 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 issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $6.63.
Get Our Latest Research Report on SSRM
SSR Mining Stock Performance
NASDAQ:SSRM traded up $0.11 during midday trading on Wednesday, reaching $5.47. The stock had a trading volume of 2,676,121 shares, compared to its average volume of 4,775,113. The stock has a market cap of $1.10 billion, a P/E ratio of -10.52, a P/E/G ratio of 0.62 and a beta of 0.82. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. SSR Mining has a 12-month low of $3.76 and a 12-month high of $17.72. The firm has a fifty day simple moving average of $4.59 and a two-hundred day simple moving average of $8.91.
Institutional Investors Weigh In On SSR Mining
Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC raised its position in SSR Mining by 178.5% during the first quarter. CWM LLC now owns 6,126 shares of the basic materials company's stock worth $27,000 after acquiring an additional 3,926 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in SSR Mining during the fourth quarter worth $40,000. Simplicity Wealth LLC acquired a new position in shares of SSR Mining in the first quarter worth $72,000. Wedmont Private Capital acquired a new position in shares of SSR Mining in the first quarter worth $81,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of SSR Mining in the fourth quarter valued at $111,000. 68.30% of the stock is currently owned by hedge funds and other institutional investors.
About SSR Mining
(
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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.
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