SSR Mining (SSRM) Releases Quarterly Earnings Results
SSR Mining (NASDAQ:SSRM) (TSE:SSO) announced its earnings results on Thursday. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06, Briefing.com reports. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The company had revenue of $115.03 million for the quarter, compared to the consensus estimate of $113.00 million. During the same period last year, the business posted $0.04 EPS. The company’s revenue was up 8.5% on a year-over-year basis.
SSR Mining stock opened at $10.42 on Friday. The company has a current ratio of 8.67, a quick ratio of 6.20 and a debt-to-equity ratio of 0.24. SSR Mining has a 1-year low of $7.64 and a 1-year high of $11.44. The company has a market capitalization of $1.19 billion, a P/E ratio of 30.65 and a beta of -0.41.
Several brokerages have weighed in on SSRM. Zacks Investment Research upgraded SSR Mining from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Friday, October 19th. ValuEngine downgraded SSR Mining from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. BidaskClub downgraded SSR Mining from a “hold” rating to a “sell” rating in a research note on Thursday, August 16th. Citigroup lowered their target price on SSR Mining from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 29th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of SSR Mining in a research note on Sunday, October 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $11.88.
About SSR Mining
SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; and the Seabee Gold Operation located in Saskatchewan, Canada.
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