FY2024 EPS Estimates for SSR Mining Increased by Analyst

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) – Equities researchers at National Bank Financial raised their FY2024 earnings per share estimates for SSR Mining in a note issued to investors on Tuesday, November 12th. National Bank Financial analyst M. Parkin now expects that the basic materials company will earn $0.45 per share for the year, up from their previous forecast of $0.33. The consensus estimate for SSR Mining’s current full-year earnings is $0.33 per share. National Bank Financial also issued estimates for SSR Mining’s FY2025 earnings at $0.82 EPS and FY2026 earnings at $1.62 EPS.

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

SSR Mining Price Performance

SSRM stock opened at $5.51 on Friday. The business’s 50 day simple moving average is $5.83 and its 200 day simple moving average is $5.35. SSR Mining has a 1-year low of $3.76 and a 1-year high of $12.04. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97.

Institutional Investors Weigh In On SSR Mining

A number of institutional investors have recently modified their holdings of SSRM. Vanguard Group Inc. raised its stake in SSR Mining by 6.9% in the 1st 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 in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of SSR Mining by 45.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock valued at $37,124,000 after buying an additional 2,587,212 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of SSR Mining by 73.7% in the second 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 buying an additional 1,118,417 shares during the period. Tidal Investments LLC acquired a new stake in SSR Mining during the first quarter worth approximately $6,485,000. Finally, Charles Schwab Investment Management Inc. increased its stake in SSR Mining by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company’s stock worth $7,542,000 after acquiring an additional 75,563 shares during the period. 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.