National Bank Financial Comments on SSR Mining Inc.’s FY2024 Earnings (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for shares of SSR Mining in a research report issued on Tuesday, August 6th. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will earn $0.58 per share for the year, down from their prior estimate of $0.60. The consensus estimate for SSR Mining’s current full-year earnings is $0.58 per share. National Bank Financial also issued estimates for SSR Mining’s FY2026 earnings at $0.72 EPS.

Other equities analysts also recently issued reports about the company. CIBC lifted their target price on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. UBS Group decreased their price objective on shares of SSR Mining from $6.50 to $6.30 and set a “buy” rating for the company in a report on Thursday. Finally, StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, SSR Mining presently has an average rating of “Hold” and a consensus target price of $6.89.

SSR Mining Stock Up 0.7 %

NASDAQ:SSRM opened at $4.54 on Friday. The company has a market capitalization of $917.52 million, a price-to-earnings ratio of -2.19, a price-to-earnings-growth ratio of 0.44 and a beta of 0.71. SSR Mining has a one year low of $3.76 and a one year high of $15.27. The stock has a 50-day simple moving average of $4.90 and a 200 day simple moving average of $5.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 3.54.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. The business had revenue of $230.23 million for the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%.

Hedge Funds Weigh In On SSR Mining

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in SSR Mining by 4.5% in the 1st quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock worth $95,619,000 after acquiring an additional 929,850 shares in the last quarter. Vanguard Group Inc. grew its holdings in SSR Mining by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock valued at $37,034,000 after buying an additional 533,880 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in SSR Mining by 5.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock valued at $16,003,000 after buying an additional 191,409 shares in the last quarter. Franklin Resources Inc. grew its holdings in SSR Mining by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 3,397,212 shares of the basic materials company’s stock valued at $36,470,000 after buying an additional 18,503 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in SSR Mining by 73.7% during the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after buying an additional 1,118,417 shares in the last quarter. 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.