FY2024 EPS Estimates for SSR Mining Cut by Analyst

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Stock analysts at National Bank Financial reduced their FY2024 earnings per share estimates for shares of SSR Mining in a research report issued on Monday, February 10th. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will earn $0.39 per share for the year, down from their prior estimate of $0.45. The consensus estimate for SSR Mining’s current full-year earnings is $0.34 per share. National Bank Financial also issued estimates for SSR Mining’s Q4 2024 earnings at $0.21 EPS.

Several other analysts also recently issued reports on the company. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, UBS Group upped their price target on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.85.

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $9.08 on Wednesday. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08. SSR Mining has a 12 month low of $3.76 and a 12 month high of $9.82. The business has a fifty day simple moving average of $7.46 and a 200-day simple moving average of $6.24.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of SSR Mining by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company’s stock valued at $72,216,000 after buying an additional 71,364 shares during the period. LPL Financial LLC boosted its position in SSR Mining by 13.7% during the fourth quarter. LPL Financial LLC now owns 85,931 shares of the basic materials company’s stock valued at $598,000 after purchasing an additional 10,326 shares during the last quarter. AXQ Capital LP acquired a new stake in SSR Mining during the fourth quarter valued at $139,000. Sei Investments Co. grew its stake in SSR Mining by 36.1% in the fourth quarter. Sei Investments Co. now owns 253,733 shares of the basic materials company’s stock valued at $1,766,000 after purchasing an additional 67,369 shares in the last quarter. Finally, American Century Companies Inc. increased its position in SSR Mining by 99.3% in the 4th quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company’s stock worth $3,528,000 after purchasing an additional 252,293 shares during the last quarter. Institutional investors and hedge funds 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.