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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Stock analysts at Cormark cut 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 post earnings of $0.35 per share for the year, down from their previous estimate 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 also recently commented on SSRM. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. UBS Group lifted their price objective on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, SSR Mining presently has an average rating of “Hold” and a consensus target price of $5.18.

SSR Mining Stock Up 2.9 %

Shares of SSRM opened at $7.84 on Monday. 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 company has a 50-day moving average price of $6.70 and a two-hundred day moving average price of $5.92. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -3.28 and a beta of 0.61. SSR Mining has a 12 month low of $3.76 and a 12 month high of $9.99.

Institutional Trading of SSR Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new position in SSR Mining during the 2nd quarter worth $3,289,000. JPMorgan Chase & Co. lifted its stake in shares of 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 valued at $8,794,000 after acquiring an additional 220,349 shares during the period. Two Sigma Advisers LP boosted its holdings in SSR Mining by 16.2% in the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after acquiring an additional 462,000 shares during the last quarter. Mackenzie Financial Corp raised its holdings in 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. lifted its position in SSR Mining by 649.6% during the 3rd quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock valued at $847,000 after purchasing an additional 127,401 shares during the period. 68.30% of the stock is currently 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.