SSR Mining (NASDAQ:SSRM) Posts Earnings Results, Misses Estimates By $0.12 EPS

SSR Mining (NASDAQ:SSRM) (TSE:SSO) issued its quarterly earnings data on Wednesday. The basic materials company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12), reports. The business had revenue of $257.36 million during the quarter. SSR Mining had a negative net margin of 44.13% and a positive return on equity of 4.02%.

SSR Mining Price Performance

SSR Mining stock opened at $5.28 on Friday. SSR Mining has a 12-month low of $3.76 and a 12-month high of $12.18. The stock has a market capitalization of $1.07 billion, a P/E ratio of -2.21, a P/E/G ratio of 0.91 and a beta of 0.72. The firm’s 50-day moving average is $5.79 and its two-hundred day moving average is $5.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 1.78.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On SSR Mining

Several hedge funds have recently modified their holdings of SSRM. D. E. Shaw & Co. Inc. lifted its holdings in shares of SSR Mining by 45.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock worth $37,124,000 after acquiring an additional 2,587,212 shares during the period. Tidal Investments LLC purchased a new position in shares of SSR Mining during the 1st quarter worth about $6,485,000. National Bank of Canada FI lifted its holdings in shares of SSR Mining by 73.7% during the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock worth $11,815,000 after acquiring an additional 1,118,417 shares during the period. Hsbc Holdings PLC purchased a new position in shares of SSR Mining during the 2nd quarter worth about $3,289,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of SSR Mining by 111.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,209,763 shares of the basic materials company’s stock worth $5,440,000 after acquiring an additional 637,161 shares during the period. 68.30% of the stock is 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.