Equities Analysts Offer Predictions for SSR Mining Inc.’s Q1 2024 Earnings (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of SSR Mining in a research note issued on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the basic materials company will post earnings per share of $0.05 for the quarter. National Bank Financial currently has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for SSR Mining’s current full-year earnings is $0.22 per share.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the business posted $0.12 earnings per share.

Several other brokerages also recently issued reports on SSRM. TD Securities downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. UBS Group downgraded shares of SSR Mining from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $17.00 to $5.00 in a research report on Thursday, February 22nd. Scotiabank downgraded shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. Desjardins downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $3.00 price objective (down from $6.00) on shares of SSR Mining in a research report on Tuesday, February 20th. 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.com, SSR Mining currently has a consensus rating of “Hold” and an average price target of $6.63.

SSR Mining Trading Up 3.0 %

Shares of NASDAQ:SSRM opened at $5.37 on Monday. SSR Mining has a 52-week low of $3.76 and a 52-week high of $17.72. The company has a market capitalization of $1.08 billion, a P/E ratio of -10.52, a price-to-earnings-growth ratio of 1.39 and a beta of 0.82. The company has a 50-day simple moving average of $4.59 and a 200 day simple moving average of $8.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01.

Institutional Trading of SSR Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of SSR Mining by 321.9% in the third quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock worth $8,599,000 after purchasing an additional 493,695 shares during the last quarter. Scotia Capital Inc. grew 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 worth $4,660,000 after purchasing an additional 238,481 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of SSR Mining in the fourth quarter worth $50,352,000. Hsbc Holdings PLC bought a new stake in shares of SSR Mining in the third quarter worth $259,000. Finally, U S Global Investors Inc. bought a new stake in shares of SSR Mining in the fourth quarter worth $3,405,000. Institutional investors own 68.30% of the company’s stock.

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.