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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Stock analysts at Desjardins issued their Q1 2024 earnings per share (EPS) estimates for shares of SSR Mining in a report issued on Tuesday, April 23rd. Desjardins analyst J. Egilo forecasts that the basic materials company will earn ($0.04) per share for the quarter. Desjardins 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 issued its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The business had revenue of $425.90 million during the quarter. During the same period in the previous year, the company earned $0.12 EPS.

A number of other equities research analysts have also commented on SSRM. TD Securities lowered SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Scotiabank lowered SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. CIBC lowered SSR Mining from a “sector outperform” rating to a “neutral” rating and reduced their price target for the company from $18.50 to $6.00 in a research report on Wednesday, February 14th. TheStreet lowered SSR Mining from a “c” rating to a “d” rating in a research report on Wednesday, February 28th. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. Two investment 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.com, the company has an average rating of “Hold” and an average price target of $6.63.

SSR Mining Trading Up 2.0 %

NASDAQ SSRM opened at $5.47 on Thursday. The business’s 50-day moving average price is $4.61 and its two-hundred day moving average price is $8.89. SSR Mining has a 12 month low of $3.76 and a 12 month high of $17.72. The company has a current ratio of 7.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in SSR Mining by 6.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 32,911 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 1,970 shares in the last quarter. Barclays PLC raised its stake in shares of SSR Mining by 4.7% in the third quarter. Barclays PLC now owns 62,325 shares of the basic materials company’s stock worth $828,000 after purchasing an additional 2,781 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in shares of SSR Mining in the fourth quarter worth approximately $40,000. CWM LLC raised its stake in shares of SSR Mining by 178.5% in the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 3,926 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of SSR Mining by 3.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 122,739 shares of the basic materials company’s stock worth $1,631,000 after purchasing an additional 4,423 shares during 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.