FY2024 Earnings Forecast for SSR Mining Issued By Cormark

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Equities researchers at Cormark cut their FY2024 earnings per share (EPS) estimates for SSR Mining in a report released on Friday, January 17th. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings of $0.35 per share for the year, down from their prior forecast of $0.38. The consensus estimate for SSR Mining’s current full-year earnings is $0.31 per share. Cormark also issued estimates for SSR Mining’s Q4 2024 earnings at $0.17 EPS.

SSRM has been the topic of several other research reports. UBS Group lifted their target price on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.18.

SSR Mining Stock Performance

NASDAQ SSRM opened at $7.62 on Monday. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -3.19 and a beta of 0.61. SSR Mining has a twelve month low of $3.76 and a twelve month high of $10.03. The stock has a fifty day simple moving average of $6.66 and a 200 day simple moving average of $5.90. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On SSR Mining

Several institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SSR Mining during the 2nd quarter worth approximately $32,000. Point72 DIFC Ltd acquired a new position in SSR Mining during the third quarter worth $47,000. SeaCrest Wealth Management LLC acquired a new stake in shares of SSR Mining in the third quarter valued at about $57,000. Lincoln Capital LLC acquired a new stake in shares of SSR Mining in the fourth quarter valued at about $70,000. Finally, Quarry LP grew its holdings in shares of SSR Mining by 119.7% in the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 5,649 shares during the period. 68.30% of the stock is 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.