What is Cormark’s Forecast for SSR Mining FY2024 Earnings?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Stock analysts at Cormark dropped their FY2024 EPS estimates for shares of SSR Mining in a research note issued on Friday, January 17th. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings per share of $0.35 for the year, down from their prior estimate 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.

Several other research firms also recently commented on SSRM. UBS Group increased their price objective on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.18.

SSR Mining Stock Performance

NASDAQ SSRM opened at $7.62 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. The stock’s 50 day simple moving average is $6.70 and its 200-day simple moving average is $5.92. The company has a market cap of $1.54 billion, a PE ratio of -3.19 and a beta of 0.61. SSR Mining has a 1-year low of $3.76 and a 1-year high of $10.03.

Institutional Investors Weigh In On SSR Mining

Hedge funds and other institutional investors have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. grew its stake in shares of SSR Mining by 45.9% in the 2nd 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 buying an additional 2,587,212 shares during the period. Hsbc Holdings PLC purchased a new position in SSR Mining in the second quarter worth approximately $3,289,000. Two Sigma Advisers LP increased its stake in SSR Mining by 16.2% during the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after acquiring an additional 462,000 shares during the last quarter. Paragon Capital Management Inc. purchased a new stake in SSR Mining in the second quarter valued at $1,672,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of SSR Mining by 399.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock valued at $2,455,000 after purchasing an additional 345,568 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

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.