Desjardins Weighs in on SSR Mining Inc.’s Q1 2024 Earnings (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Equities researchers at Desjardins issued their Q1 2024 earnings estimates for SSR Mining in a report released on Tuesday, April 23rd. Desjardins analyst J. Egilo expects that the basic materials company will post earnings per share of ($0.04) for the quarter. Desjardins has a “Hold” rating on the stock. The consensus estimate for SSR Mining’s current full-year earnings is $0.18 per share.

A number of other research analysts have also recently weighed in on SSRM. TD Securities cut shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. CIBC cut shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and cut their price objective for the company from $18.50 to $6.00 in a report on Wednesday, February 14th. TheStreet cut shares of SSR Mining from a “c” rating to a “d” rating in a report on Wednesday, February 28th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. Finally, Scotiabank lowered shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, SSR Mining presently has an average rating of “Hold” and a consensus target price of $6.63.

SSR Mining Stock Up 0.9 %

SSRM opened at $5.57 on Thursday. SSR Mining has a fifty-two week low of $3.76 and a fifty-two week high of $17.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01. The company has a fifty day moving average of $4.63 and a two-hundred day moving average of $8.81. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -10.92, a PEG ratio of 1.69 and a beta of 0.82.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.23. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. The firm had revenue of $425.90 million during the quarter. During the same period last year, the business earned $0.12 EPS.

Hedge Funds Weigh In On SSR Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its position in SSR Mining by 178.5% during the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 3,926 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in SSR Mining during the fourth quarter worth about $40,000. Simplicity Wealth LLC acquired a new position in SSR Mining in the 1st quarter valued at about $72,000. Wedmont Private Capital acquired a new position in SSR Mining in the 1st quarter valued at about $81,000. Finally, International Assets Investment Management LLC acquired a new position in SSR Mining in the 4th quarter valued at about $111,000. 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.