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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Equities researchers at Cormark dropped their FY2024 earnings per share (EPS) estimates for SSR Mining in a research report issued to clients and investors on Monday, November 11th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of $0.38 per share for the year, down from their prior forecast of $0.58. The consensus estimate for SSR Mining’s current full-year earnings is $0.38 per share. Cormark also issued estimates for SSR Mining’s FY2025 earnings at $0.71 EPS and FY2026 earnings at $0.68 EPS.

Separately, UBS Group increased their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.01.

SSR Mining Stock Down 3.6 %

NASDAQ SSRM opened at $5.32 on Wednesday. The business’s 50-day moving average price is $5.81 and its 200 day moving average price is $5.35. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. SSR Mining has a twelve month low of $3.76 and a twelve month high of $12.04.

Institutional Trading of SSR Mining

A number of institutional investors and hedge funds have recently bought and sold shares of SSRM. D. E. Shaw & Co. Inc. grew its stake in 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 buying an additional 2,587,212 shares during the period. Tidal Investments LLC purchased a new stake in SSR Mining during the 1st quarter worth $6,485,000. National Bank of Canada FI increased its holdings in SSR Mining by 73.7% in the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after purchasing an additional 1,118,417 shares in the last quarter. Hsbc Holdings PLC purchased a new position in SSR Mining in the second quarter valued at about $3,289,000. Finally, Acadian Asset Management LLC lifted its stake in shares of SSR Mining by 111.3% during the second quarter. Acadian Asset Management LLC now owns 1,209,763 shares of the basic materials company’s stock worth $5,440,000 after purchasing an additional 637,161 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

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.