Brokerages forecast that SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) will announce earnings of ($0.05) per share for the current quarter, according to Zacks. Zero analysts have issued estimates for SSR Mining’s earnings, with estimates ranging from ($0.09) to ($0.01). SSR Mining posted earnings per share of $0.04 in the same quarter last year, which would suggest a negative year over year growth rate of 225%. The company is expected to announce its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that SSR Mining will report full year earnings of $0.07 per share for the current fiscal year. For the next year, analysts expect that the firm will report earnings of $0.13 per share, with EPS estimates ranging from ($0.10) to $0.35. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for SSR Mining.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Thursday, August 9th. The basic materials company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.08. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The business had revenue of $104.00 million for the quarter, compared to the consensus estimate of $107.90 million. During the same period last year, the business earned $0.11 EPS. The firm’s revenue was down 11.1% compared to the same quarter last year.
SSRM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded SSR Mining from a “buy” rating to a “hold” rating in a research note on Saturday, June 23rd. TheStreet downgraded SSR Mining from a “b-” rating to a “c” rating in a research report on Monday, June 25th. ValuEngine raised SSR Mining from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. BidaskClub downgraded SSR Mining from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. Finally, Citigroup dropped their price target on SSR Mining from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $11.88.
Shares of SSRM stock traded up $0.04 during trading on Tuesday, reaching $10.69. The company had a trading volume of 833,100 shares, compared to its average volume of 831,787. The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.20 and a current ratio of 8.67. SSR Mining has a one year low of $7.64 and a one year high of $11.44. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 31.32 and a beta of -0.36.
Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its position in SSR Mining by 18.5% in the 2nd quarter. Wells Fargo & Company MN now owns 851,576 shares of the basic materials company’s stock worth $8,405,000 after buying an additional 132,690 shares during the period. OppenheimerFunds Inc. increased its position in SSR Mining by 53.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 690,000 shares of the basic materials company’s stock worth $6,810,000 after buying an additional 240,000 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in SSR Mining by 281.6% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 66,699 shares of the basic materials company’s stock worth $658,000 after buying an additional 49,220 shares during the period. Tower Research Capital LLC TRC increased its position in shares of SSR Mining by 2,013.8% during the second quarter. Tower Research Capital LLC TRC now owns 23,717 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 22,595 shares during the period. Finally, Oxbow Advisors LLC bought a new stake in shares of SSR Mining during the second quarter valued at approximately $348,000. 47.53% of the stock is currently owned by institutional investors.
About SSR Mining
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; and the Seabee Gold Operation located in Saskatchewan, Canada.
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