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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Stock analysts at National Bank Financial issued their Q1 2024 earnings estimates for SSR Mining in a report released on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the basic materials company will earn $0.05 per share for the quarter. National Bank Financial has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for SSR Mining’s current full-year earnings is $0.22 per share.

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

A number of other equities research analysts have also recently commented on SSRM. TheStreet cut shares of SSR Mining from a “c” rating to a “d” rating in a research report on Wednesday, February 28th. Desjardins cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Scotiabank cut shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. UBS Group cut shares of SSR Mining from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $17.00 to $5.00 in a research report on Thursday, February 22nd. Finally, TD Securities cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.63.

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $5.34 on Monday. The firm has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $9.02. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -10.47, a price-to-earnings-growth ratio of 1.39 and a beta of 0.82. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. SSR Mining has a 52 week low of $3.76 and a 52 week high of $17.72.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its stake 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 buying an additional 3,926 shares during the period. American International Group Inc. purchased a new position in SSR Mining during the second quarter worth about $37,000. Creekmur Asset Management LLC purchased a new position in SSR Mining during the fourth quarter worth about $40,000. Wedmont Private Capital purchased a new position in SSR Mining during the first quarter worth about $81,000. Finally, International Assets Investment Management LLC purchased a new position in SSR Mining during the fourth quarter worth about $111,000. Hedge funds and other institutional investors 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.