Q1 2024 Earnings Forecast for SSR Mining Inc. Issued By Cormark (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Analysts at Cormark lifted their Q1 2024 earnings per share (EPS) estimates for SSR Mining in a research report issued to clients and investors on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings of ($0.28) per share for the quarter, up from their previous forecast of ($0.30). The consensus estimate for SSR Mining’s current full-year earnings is $0.48 per share.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share 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 for the quarter. During the same quarter in the previous year, the firm posted $0.12 EPS.

A number of other brokerages have also commented on SSRM. UBS Group lowered SSR Mining from a “buy” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. Desjardins lowered SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. CIBC lowered SSR Mining from a “sector outperform” rating to a “neutral” rating and dropped their target price for the company from $18.50 to $6.00 in a research report on Wednesday, February 14th. Royal Bank of Canada reissued an “underperform” rating and issued a $3.00 price target (down from $6.00) on shares of SSR Mining in a report on Tuesday, February 20th. Finally, Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.63.

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $5.47 on Wednesday. The business’s 50 day moving average price is $4.61 and its 200 day moving average price is $8.89. The firm has a market cap of $1.10 billion, a P/E ratio of -10.73, a P/E/G ratio of 0.62 and a beta of 0.82. SSR Mining has a 52 week low of $3.76 and a 52 week high of $17.72. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Creekmur Asset Management LLC acquired a new position in shares of SSR Mining during the 4th quarter worth approximately $40,000. CWM LLC increased its position in shares of SSR Mining by 178.5% during 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 in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of SSR Mining during the fourth quarter worth approximately $111,000. Headlands Technologies LLC purchased a new stake in shares of SSR Mining during the fourth quarter worth approximately $120,000. Finally, Private Advisor Group LLC purchased a new stake in shares of SSR Mining during the fourth quarter worth approximately $127,000. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Company Profile

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.