Q2 2024 EPS Estimates for SSR Mining Inc. (NASDAQ:SSRM) Reduced by Analyst

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Equities researchers at Cormark lowered their Q2 2024 earnings per share estimates for shares of SSR Mining in a research report issued on Wednesday, July 24th. Cormark analyst R. Gray now expects that the basic materials company will post earnings per share of $0.00 for the quarter, down from their previous estimate of $0.03. The consensus estimate for SSR Mining’s current full-year earnings is $0.54 per share.

SSRM has been the subject of several other reports. CIBC upped their target price on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Wednesday, July 10th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, May 24th. 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 given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.56.

SSR Mining Price Performance

SSRM opened at $5.50 on Monday. The company has a quick ratio of 1.75, a current ratio of 3.07 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $5.01 and its 200 day moving average price is $5.61. SSR Mining has a fifty-two week low of $3.76 and a fifty-two week high of $15.27. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -2.66, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. SSR Mining had a negative net margin of 30.90% and a positive return on equity of 6.37%. The firm had revenue of $230.23 million during the quarter.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in SSR Mining in the fourth quarter worth about $24,398,000. Tidal Investments LLC bought a new position in shares of SSR Mining in the first quarter valued at approximately $6,485,000. Van ECK Associates Corp increased its stake in shares of SSR Mining by 4.5% during the first quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock valued at $95,619,000 after acquiring an additional 929,850 shares during the period. Quadrature Capital Ltd raised its holdings in SSR Mining by 1,318.9% during the first quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock worth $2,976,000 after purchasing an additional 621,200 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in SSR Mining in the first quarter worth approximately $2,547,000. 68.30% of the stock is owned by institutional investors and hedge funds.

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.