SSR Mining FY2024 EPS Reduced by National Bank Financial

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Research analysts at National Bank Financial dropped their FY2024 EPS estimates for SSR Mining in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will post earnings per share of $0.33 for the year, down from their prior forecast of $0.58. The consensus estimate for SSR Mining’s current full-year earnings is $0.44 per share. National Bank Financial also issued estimates for SSR Mining’s FY2025 earnings at $0.52 EPS.

Several other equities analysts have also recently weighed in on the stock. UBS Group raised their target price on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th. CIBC raised their target price on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.01.

SSR Mining Price Performance

NASDAQ:SSRM opened at $6.15 on Friday. SSR Mining has a 1-year low of $3.76 and a 1-year high of $14.32. The company has a current ratio of 3.54, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $5.66 and a 200 day simple moving average of $5.29. The stock has a market capitalization of $1.24 billion, a PE ratio of -2.59, a P/E/G ratio of 0.83 and a beta of 0.73.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. SSR Mining had a negative net margin of 39.15% and a positive return on equity of 5.01%. The company had revenue of $184.84 million for the quarter.

Institutional Investors Weigh In On SSR Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of SSR Mining by 23.3% during the second quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company’s stock worth $90,000 after buying an additional 3,760 shares in the last quarter. Quarry LP lifted its holdings in shares of SSR Mining by 119.7% during the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after buying an additional 5,649 shares in the last quarter. Oak Thistle LLC lifted its holdings in shares of SSR Mining by 20.0% during the first quarter. Oak Thistle LLC now owns 40,083 shares of the basic materials company’s stock worth $179,000 after buying an additional 6,680 shares in the last quarter. Cadence Wealth Management LLC lifted its holdings in shares of SSR Mining by 17.1% during the second quarter. Cadence Wealth Management LLC now owns 47,068 shares of the basic materials company’s stock worth $213,000 after buying an additional 6,860 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SSR Mining during the second quarter worth $32,000. Institutional investors and hedge funds 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.