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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings estimates for shares of SSR Mining in a research note issued to investors on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the basic materials company will earn $0.05 per share for the quarter. National Bank Financial 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.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada restated an “underperform” rating and set a $3.00 price objective (down previously from $6.00) on shares of SSR Mining in a research report on Tuesday, February 20th. TheStreet cut shares of SSR Mining from a “c” rating to a “d” rating in a research report on Wednesday, February 28th. TD Securities cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Desjardins cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, UBS Group lowered shares of SSR Mining from a “buy” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $5.00 in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, SSR Mining currently has an average rating of “Hold” and a consensus price target of $6.63.

SSR Mining Stock Performance

SSR Mining stock opened at $5.37 on Monday. The firm’s fifty day moving average price is $4.59 and its 200-day moving average price is $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. The stock has a market cap 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. SSR Mining has a fifty-two week low of $3.76 and a fifty-two week high of $17.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data 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. The firm had revenue of $425.90 million for the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same quarter last year, the business posted $0.12 EPS.

Hedge Funds Weigh In On SSR Mining

Several institutional investors and hedge funds have recently made changes to their positions in SSRM. Creekmur Asset Management LLC bought a new stake in SSR Mining in the 4th quarter worth $40,000. CWM LLC grew its holdings in SSR Mining by 178.5% in the 1st 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. International Assets Investment Management LLC bought a new stake in SSR Mining in the 4th quarter worth $111,000. Headlands Technologies LLC bought a new stake in SSR Mining in the 4th quarter worth $120,000. Finally, Private Advisor Group LLC bought a new stake in SSR Mining in the 4th quarter worth $127,000. 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.