What is Cormark’s Estimate for SSR Mining FY2024 Earnings?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Analysts at Cormark cut their FY2024 earnings per share (EPS) estimates for SSR Mining in a research note issued on Friday, January 17th. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings of $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 $0.34 per share. Cormark also issued estimates for SSR Mining’s Q4 2024 earnings at $0.17 EPS.

Several other research firms have also weighed in on SSRM. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. UBS Group lifted 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. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.18.

SSR Mining Price Performance

Shares of SSRM opened at $7.84 on Monday. The stock has a market cap of $1.59 billion, a P/E ratio of -3.28 and a beta of 0.61. SSR Mining has a 1 year low of $3.76 and a 1 year high of $9.99. The stock’s 50-day moving average price is $6.70 and its two-hundred day moving average price is $5.92. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On SSR Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lincoln Capital LLC acquired a new position in SSR Mining during the 4th quarter worth approximately $70,000. HB Wealth Management LLC lifted its position in shares of SSR Mining by 11.3% in the fourth quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 1,463 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in SSR Mining by 16.6% during the third 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 last quarter. B. Riley Wealth Advisors Inc. bought a new position in SSR Mining in the third quarter valued at $114,000. Finally, Franklin Resources Inc. increased its stake in SSR Mining by 649.6% in the 3rd quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock valued at $847,000 after buying an additional 127,401 shares during the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

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.