SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) – Analysts at National Bank Financial raised their FY2019 EPS estimates for SSR Mining in a research report issued on Tuesday, September 24th, Zacks Investment Research reports. National Bank Financial analyst M. Parkin now expects that the basic materials company will post earnings of $0.79 per share for the year, up from their previous forecast of $0.59. National Bank Financial also issued estimates for SSR Mining’s FY2020 earnings at $1.28 EPS and FY2021 earnings at $1.50 EPS.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Thursday, August 8th. The basic materials company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. SSR Mining had a return on equity of 4.84% and a net margin of 4.18%. The business had revenue of $155.15 million for the quarter, compared to the consensus estimate of $143.00 million. During the same period last year, the business posted $0.10 EPS. The company’s revenue was up 49.1% compared to the same quarter last year.
SSRM has been the topic of a number of other reports. TheStreet upgraded SSR Mining from a “c” rating to a “b-” rating in a research note on Monday, August 12th. ValuEngine downgraded SSR Mining from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research upgraded SSR Mining from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Saturday, September 28th. B. Riley dropped their price target on SSR Mining from $18.70 to $16.70 and set a “neutral” rating on the stock in a research note on Friday. Finally, BidaskClub downgraded SSR Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. SSR Mining presently has an average rating of “Buy” and an average price target of $17.43.
SSRM traded down $1.33 during trading on Friday, hitting $14.36. 2,327,521 shares of the company’s stock traded hands, compared to its average volume of 1,168,559. The company’s 50 day simple moving average is $15.47 and its two-hundred day simple moving average is $13.72. The company has a current ratio of 4.02, a quick ratio of 2.91 and a debt-to-equity ratio of 0.15. SSR Mining has a 12-month low of $9.65 and a 12-month high of $17.56. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 62.43 and a beta of -0.50.
A number of institutional investors have recently made changes to their positions in SSRM. Bank of Montreal Can raised its holdings in SSR Mining by 92.6% in the 2nd quarter. Bank of Montreal Can now owns 2,577,586 shares of the basic materials company’s stock worth $35,236,000 after purchasing an additional 1,239,501 shares during the period. Paulson & CO. Inc. bought a new position in SSR Mining in the 2nd quarter worth $15,833,000. Invesco Ltd. raised its holdings in SSR Mining by 7,205.2% in the 2nd quarter. Invesco Ltd. now owns 836,594 shares of the basic materials company’s stock worth $11,436,000 after purchasing an additional 825,142 shares during the period. O Shaughnessy Asset Management LLC bought a new position in SSR Mining in the 1st quarter worth $4,762,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in SSR Mining by 9.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,122,916 shares of the basic materials company’s stock worth $56,539,000 after purchasing an additional 367,800 shares during the period. 55.91% of the stock is currently owned by institutional investors.
SSR Mining Company Profile
SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.
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