FY2024 Earnings Forecast for SSR Mining Issued By Scotiabank

SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO - Scotiabank dropped their FY2024 earnings per share (EPS) estimates for SSR Mining in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the basic materials company will post earnings of $0.18 per share for the year, down from their prior forecast of $0.33. The consensus estimate for SSR Mining's current full-year earnings is $0.34 per share. Scotiabank also issued estimates for SSR Mining's FY2025 earnings at $0.10 EPS and FY2026 earnings at $0.53 EPS.

Several other research analysts also recently issued reports on SSRM. StockNews.com upgraded shares of SSR Mining from a "sell" rating to a "hold" rating in a report on Thursday. UBS Group upped their target price on SSR Mining from $6.30 to $6.80 and gave the stock a "buy" rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $5.18.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $7.42 on Monday. SSR Mining has a one year low of $3.76 and a one year high of $10.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -3.10, a PEG ratio of 1.23 and a beta of 0.61. The firm has a 50 day simple moving average of $6.50 and a 200 day simple moving average of $5.80.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. raised its position in shares of SSR Mining by 45.9% during the second 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 last quarter. Two Sigma Advisers LP increased its position in SSR Mining by 16.2% during 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 during the period. Tidal Investments LLC increased its position in SSR Mining by 6.4% during the 3rd quarter. Tidal Investments LLC now owns 2,766,447 shares of the basic materials company's stock valued at $15,713,000 after purchasing an additional 166,130 shares during the period. National Bank of Canada FI raised its holdings in SSR Mining by 3.8% during the 3rd quarter. National Bank of Canada FI now owns 2,737,848 shares of the basic materials company's stock worth $15,551,000 after purchasing an additional 100,946 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of 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 worth $8,794,000 after purchasing an additional 220,349 shares during the period. 68.30% of the stock is owned by institutional investors.

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.