Desjardins Weighs in on SSR Mining Inc.’s Q1 2024 Earnings (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Equities researchers at Desjardins issued their Q1 2024 earnings per share estimates for SSR Mining in a note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Egilo expects that the basic materials company will post earnings per share of ($0.04) 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.

Several other research firms have also recently weighed in on SSRM. UBS Group cut SSR Mining from a “buy” rating to a “neutral” rating and cut their price objective for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. TD Securities cut SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Scotiabank cut SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $3.00 price objective (down from $6.00) on shares of SSR Mining in a research report on Tuesday, February 20th. Finally, National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. 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 company currently has a consensus rating of “Hold” and an average target price of $6.63.

SSR Mining Stock Up 0.9 %

NASDAQ SSRM opened at $5.52 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99. The stock has a market capitalization of $1.11 billion, a PE ratio of -10.82, a PEG ratio of 1.65 and a beta of 0.82. SSR Mining has a 1 year low of $3.76 and a 1 year high of $17.72. The business’s 50-day moving average is $4.62 and its 200 day moving average is $8.87.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $425.90 million for the quarter. During the same period last year, the business posted $0.12 earnings per share.

Hedge Funds Weigh In On SSR Mining

A number of hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in SSR Mining by 6.4% in the 3rd 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 during the last quarter. Barclays PLC raised its holdings in SSR Mining by 4.7% in the 3rd quarter. Barclays PLC now owns 62,325 shares of the basic materials company’s stock worth $828,000 after acquiring an additional 2,781 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in SSR Mining in the 4th quarter worth approximately $40,000. CWM LLC raised 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. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in SSR Mining by 3.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 122,739 shares of the basic materials company’s stock worth $1,631,000 after acquiring an additional 4,423 shares during the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

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.