What is Cormark's Forecast for SSR Mining FY2024 Earnings?

SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO - Stock analysts at Cormark decreased their FY2024 EPS estimates for shares of SSR Mining in a report released on Friday, January 17th. Cormark analyst R. Gray now anticipates that the basic materials company will earn $0.35 per share for the year, down from their prior forecast of $0.38. The consensus estimate for SSR Mining's current full-year earnings is $0.31 per share. Cormark also issued estimates for SSR Mining's Q4 2024 earnings at $0.17 EPS.

Other equities research analysts have also recently issued research reports about the company. UBS Group upped their price target on SSR Mining from $6.30 to $6.80 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. StockNews.com raised shares of SSR Mining from a "sell" rating to a "hold" rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.18.

SSR Mining Stock Performance

SSRM stock traded down $0.07 during trading on Monday, hitting $7.62. The company had a trading volume of 2,915,111 shares, compared to its average volume of 2,636,733. The firm has a 50-day moving average price of $6.66 and a 200-day moving average price of $5.90. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.54 billion, a PE ratio of -3.19 and a beta of 0.61. SSR Mining has a 1-year low of $3.76 and a 1-year high of $10.03.

Institutional Trading of SSR Mining

Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new stake in SSR Mining in the 2nd quarter valued at approximately $3,289,000. JPMorgan Chase & Co. raised its stake in SSR Mining by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company's stock valued at $8,794,000 after purchasing an additional 220,349 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company's stock valued at $18,860,000 after purchasing an additional 462,000 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of SSR Mining by 25.5% during the 2nd quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company's stock worth $3,992,000 after purchasing an additional 179,601 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of SSR Mining by 649.6% during the third quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company's stock worth $847,000 after buying an additional 127,401 shares in 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.