SSR Mining Inc. (NASDAQ:SSRM) to Post FY2023 Earnings of $1.54 Per Share, National Bank Financial Forecasts

SSR Mining Inc. (NASDAQ:SSRMGet Rating) (TSE:SSO) – Analysts at National Bank Financial lifted their FY2023 earnings estimates for SSR Mining in a research report issued to clients and investors on Wednesday, November 9th. National Bank Financial analyst M. Parkin now expects that the basic materials company will earn $1.54 per share for the year, up from their previous estimate of $1.39. The consensus estimate for SSR Mining’s current full-year earnings is $0.83 per share.

Other analysts also recently issued research reports about the stock. BMO Capital Markets lowered their target price on shares of SSR Mining from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, September 23rd. StockNews.com started coverage on shares of SSR Mining in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Scotiabank lowered their target price on shares of SSR Mining from C$33.50 to C$30.00 in a report on Monday, October 24th. TD Securities lowered their target price on shares of SSR Mining from C$35.00 to C$34.00 in a report on Wednesday, November 9th. Finally, Canaccord Genuity Group lowered their target price on shares of SSR Mining from C$26.00 to C$25.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.92.

SSR Mining Stock Performance

SSRM opened at $15.01 on Monday. The company has a current ratio of 7.10, a quick ratio of 5.17 and a debt-to-equity ratio of 0.09. The company’s fifty day moving average price is $14.01 and its two-hundred day moving average price is $16.38. SSR Mining has a 1-year low of $12.84 and a 1-year high of $24.58. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 6.03 and a beta of 0.80.

Hedge Funds Weigh In On SSR Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSRM. Principal Financial Group Inc. bought a new position in shares of SSR Mining in the first quarter valued at approximately $42,169,000. State Street Corp bought a new position in shares of SSR Mining in the second quarter valued at approximately $29,214,000. Van ECK Associates Corp boosted its position in shares of SSR Mining by 7.5% in the first quarter. Van ECK Associates Corp now owns 22,323,546 shares of the basic materials company’s stock valued at $485,536,000 after acquiring an additional 1,550,609 shares during the period. American Century Companies Inc. boosted its position in shares of SSR Mining by 173.5% in the first quarter. American Century Companies Inc. now owns 2,339,247 shares of the basic materials company’s stock valued at $50,876,000 after acquiring an additional 1,484,016 shares during the period. Finally, CI Investments Inc. bought a new position in shares of SSR Mining in the first quarter valued at approximately $19,967,000. Institutional investors own 57.70% of the company’s stock.

Insiders Place Their Bets

In other SSR Mining news, COO Steward John Beckman sold 5,400 shares of the stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $14.16, for a total transaction of $76,464.00. Following the completion of the transaction, the chief operating officer now owns 135,605 shares in the company, valued at $1,920,166.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 12,517 shares of company stock worth $178,077 over the last quarter. 0.51% of the stock is currently owned by company insiders.

SSR Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Friday, November 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.28 dividend on an annualized basis and a yield of 1.87%. SSR Mining’s dividend payout ratio is presently 27.18%.

About SSR Mining

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SSR Mining Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, copper, lead, and zinc deposits. Its projects include the Çöpler Gold mine located in Erzincan, Turkey; the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

See Also

Earnings History and Estimates for SSR Mining (NASDAQ:SSRM)

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