Cormark Has Negative Estimate for SSR Mining Q4 Earnings

SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO - Stock analysts at Cormark dropped their Q4 2024 earnings estimates for shares of SSR Mining in a note issued to investors on Monday, November 11th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of $0.20 per share for the quarter, down from their prior forecast of $0.22. The consensus estimate for SSR Mining's current full-year earnings is $0.38 per share.

Separately, UBS Group upped their price target on shares of SSR Mining from $6.30 to $6.80 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $7.01.

SSR Mining Price Performance

NASDAQ:SSRM traded down $0.23 during mid-day trading on Tuesday, reaching $5.29. 1,126,743 shares of the company were exchanged, compared to its average volume of 3,487,728. The company has a fifty day moving average of $5.81 and a 200 day moving average of $5.35. SSR Mining has a 12 month low of $3.76 and a 12 month high of $12.04. The stock has a market cap of $1.07 billion, a PE ratio of -2.22, a PEG ratio of 0.84 and a beta of 0.72. The company has a quick ratio of 1.78, a current ratio of 3.91 and a debt-to-equity ratio of 0.08.

Institutional Investors Weigh In On SSR Mining

A number of institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in SSR Mining by 23.3% in the 2nd quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company's stock valued at $90,000 after buying an additional 3,760 shares in the last quarter. Quarry LP boosted its stake in SSR Mining by 119.7% in the 2nd 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. Cadence Wealth Management LLC lifted its stake in shares of SSR Mining by 17.1% in the 2nd quarter. Cadence Wealth Management LLC now owns 47,068 shares of the basic materials company's stock valued at $213,000 after purchasing an additional 6,860 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in SSR Mining in the 2nd quarter worth $32,000. Finally, Price T Rowe Associates Inc. MD increased its stake in SSR Mining by 18.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 46,324 shares of the basic materials company's stock valued at $207,000 after acquiring an additional 7,277 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.