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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Stock analysts at Cormark decreased their FY2024 earnings estimates for shares of SSR Mining in a research report issued to clients and investors on Monday, November 11th. Cormark analyst R. Gray now expects that the basic materials company will post earnings per share of $0.38 for the year, down from their prior estimate 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 boosted their price target on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.01.

SSR Mining Trading Down 3.6 %

Shares of SSRM stock opened at $5.32 on Wednesday. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $5.81 and its two-hundred day moving average price is $5.35. SSR Mining has a 12 month low of $3.76 and a 12 month high of $12.04.

Hedge Funds Weigh In On SSR Mining

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its stake in SSR Mining by 395.6% during the first quarter. SG Americas Securities LLC now owns 209,132 shares of the basic materials company’s stock valued at $933,000 after buying an additional 166,935 shares in the last quarter. Headlands Technologies LLC raised its position in shares of SSR Mining by 325.3% during the 1st quarter. Headlands Technologies LLC now owns 47,598 shares of the basic materials company’s stock valued at $212,000 after acquiring an additional 36,407 shares in the last quarter. Bleakley Financial Group LLC bought a new position in SSR Mining during the first quarter worth $72,000. Vanguard Group Inc. boosted its holdings in SSR Mining by 6.9% in the first quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock worth $37,034,000 after purchasing an additional 533,880 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in SSR Mining during the first quarter valued at $2,547,000. Institutional investors own 68.30% of the company’s stock.

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.