SSR Mining Inc. to Post Q1 2024 Earnings of ($0.04) Per Share, Desjardins Forecasts (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Investment analysts at Desjardins issued their Q1 2024 earnings per share (EPS) estimates for SSR Mining in a research note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Egilo forecasts that the basic materials company will post earnings of ($0.04) per share 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 posted its quarterly 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 negative net margin of 6.87% and a positive return on equity of 6.27%. The firm had revenue of $425.90 million during the quarter. During the same period in the prior year, the firm posted $0.12 EPS.

SSRM has been the subject of several other research reports. Royal Bank of Canada reaffirmed an “underperform” rating and set a $3.00 price target (down previously from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. CIBC downgraded shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and decreased their price target for the company from $18.50 to $6.00 in a research note on Wednesday, February 14th. TheStreet downgraded shares of SSR Mining from a “c” rating to a “d” rating in a research note on Wednesday, February 28th. UBS Group downgraded shares of SSR Mining from a “buy” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $5.00 in a research note on Thursday, February 22nd. Finally, Scotiabank downgraded shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, SSR Mining presently has a consensus rating of “Hold” and a consensus price target of $6.63.

SSR Mining Trading Up 2.0 %

SSR Mining stock opened at $5.47 on Thursday. The company has a 50 day moving average price of $4.61 and a 200-day moving average price of $8.89. 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 fifty-two week low of $3.76 and a fifty-two week high of $17.72.

Hedge Funds Weigh In On SSR Mining

Institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in 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 holdings in 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 purchased a new stake in shares of SSR Mining during the fourth quarter valued at $50,352,000. Hsbc Holdings PLC purchased a new stake in shares of SSR Mining during the third quarter valued at $259,000. Finally, U S Global Investors Inc. purchased a new stake in shares of SSR Mining during the fourth quarter valued at $3,405,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

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.