Cormark Predicts SSR Mining’s Q4 Earnings (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Cormark cut their Q4 2024 earnings per share (EPS) estimates for shares of SSR Mining in a report issued on Monday, November 11th. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings of $0.20 per share for the quarter, down from their prior estimate of $0.22. The consensus estimate for SSR Mining’s current full-year earnings is $0.33 per share.

Separately, UBS Group raised their price target on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, SSR Mining currently has an average rating of “Hold” and an average price target of $7.01.

SSR Mining Price Performance

Shares of SSRM opened at $5.37 on Tuesday. The business has a 50-day moving average of $5.82 and a 200-day moving average of $5.35. SSR Mining has a 1 year low of $3.76 and a 1 year high of $12.04. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.25, a price-to-earnings-growth ratio of 0.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97.

Hedge Funds Weigh In On SSR Mining

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of SSR Mining by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock valued at $37,034,000 after acquiring an additional 533,880 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of SSR Mining by 45.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock valued at $37,124,000 after purchasing an additional 2,587,212 shares during the period. National Bank of Canada FI boosted its position in shares of SSR Mining by 73.7% during the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock worth $11,815,000 after purchasing an additional 1,118,417 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of SSR Mining in the 1st quarter valued at about $6,485,000. Finally, Charles Schwab Investment Management Inc. increased its position in SSR Mining by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company’s stock valued at $7,542,000 after buying an additional 75,563 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors.

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.