Scotiabank Analysts Lower Earnings Estimates for SSR Mining

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Research analysts at Scotiabank lowered their FY2024 earnings per share estimates for SSR Mining in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the basic materials company will post earnings per share of $0.18 for the year, down from their prior estimate of $0.33. The consensus estimate for SSR Mining’s current full-year earnings is $0.34 per share. Scotiabank also issued estimates for SSR Mining’s FY2025 earnings at $0.10 EPS and FY2026 earnings at $0.53 EPS.

A number of other equities analysts also recently weighed in on SSRM. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research report on Thursday. UBS Group boosted their target price on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, SSR Mining currently has a consensus rating of “Hold” and an average price target of $5.18.

SSR Mining Trading Down 0.9 %

Shares of SSR Mining stock opened at $7.42 on Monday. The stock has a market cap of $1.50 billion, a P/E ratio of -3.10, a P/E/G ratio of 1.23 and a beta of 0.61. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08. SSR Mining has a 12-month low of $3.76 and a 12-month high of $10.63. The business’s 50 day moving average is $6.50 and its 200-day moving average is $5.80.

Hedge Funds Weigh In On SSR Mining

Institutional investors have recently modified their holdings of the business. D. E. Shaw & Co. Inc. increased 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 worth $37,124,000 after buying an additional 2,587,212 shares in the last quarter. Two Sigma Advisers LP raised its position in SSR Mining by 16.2% in the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after purchasing an additional 462,000 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of SSR Mining by 6.4% during the third quarter. Tidal Investments LLC now owns 2,766,447 shares of the basic materials company’s stock valued at $15,713,000 after purchasing an additional 166,130 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of SSR Mining by 3.8% during the third quarter. National Bank of Canada FI now owns 2,737,848 shares of the basic materials company’s stock worth $15,551,000 after purchasing an additional 100,946 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of SSR Mining by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock valued at $8,794,000 after buying an additional 220,349 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

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.