SSR Mining (NASDAQ:SSRM) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

SSR Mining (NASDAQ:SSRM) (TSE:SSO) announced its earnings results on Tuesday. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08), Zacks reports. The firm had revenue of $323.19 million for the quarter, compared to analyst estimates of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%.

SSR Mining Price Performance

SSRM stock opened at $10.52 on Thursday. The stock has a 50-day moving average price of $7.84 and a two-hundred day moving average price of $6.44. The company has a market cap of $2.13 billion, a PE ratio of -8.16 and a beta of 0.62. 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 12-month low of $3.90 and a 12-month high of $10.63.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group raised their price objective on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Finally, CIBC raised their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.93.

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.