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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Analysts at Cormark dropped their FY2024 EPS estimates for shares of SSR Mining in a report issued on Monday, November 11th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of $0.38 per share for the year, down from their previous estimate of $0.58. The consensus estimate for SSR Mining’s current full-year earnings is $0.33 per share. Cormark also issued estimates for SSR Mining’s FY2025 earnings at $0.71 EPS and FY2026 earnings at $0.68 EPS.

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

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $5.51 on Wednesday. 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 business has a 50-day moving average of $5.83 and a 200-day moving average of $5.35. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.28, a PEG ratio of 0.90 and a beta of 0.72. SSR Mining has a fifty-two week low of $3.76 and a fifty-two week high of $12.04.

Hedge Funds Weigh In On SSR Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SSR Mining in the second quarter valued at approximately $32,000. Abich Financial Wealth Management LLC acquired a new stake in SSR Mining during the 1st quarter valued at $41,000. Quarry LP boosted its position in 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 purchasing an additional 5,649 shares during the period. HB Wealth Management LLC bought a new position in SSR Mining during the second quarter worth $56,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of SSR Mining in the third quarter valued at $57,000. Institutional investors 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.