SSR Mining Inc. (NASDAQ:SSRM – Free Report) (TSE:SSO) – Research analysts at Desjardins cut their FY2023 earnings per share estimates for SSR Mining in a research note issued on Wednesday, November 1st. Desjardins analyst J. Egilo now anticipates that the basic materials company will earn $0.98 per share for the year, down from their prior estimate of $1.02. Desjardins currently has a “Buy” rating on the stock. The consensus estimate for SSR Mining’s current full-year earnings is $1.13 per share.
A number of other research analysts also recently weighed in on SSRM. Royal Bank of Canada lowered their target price on SSR Mining from $22.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday. UBS Group reduced their price target on SSR Mining from $18.30 to $17.90 and set a “buy” rating for the company in a research report on Friday, October 6th. StockNews.com assumed coverage on SSR Mining in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Bank of America upped their price target on SSR Mining from $17.50 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.68.
SSR Mining Stock Up 6.1 %
SSRM stock opened at $12.25 on Friday. SSR Mining has a fifty-two week low of $11.14 and a fifty-two week high of $17.74. The business’s 50-day moving average is $13.93 and its two-hundred day moving average is $14.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 6.97. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.64 and a beta of 0.99.
SSR Mining (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.20. SSR Mining had a return on equity of 4.01% and a net margin of 16.35%. The firm had revenue of $301.03 million for the quarter, compared to the consensus estimate of $288.00 million.
SSR Mining Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 13th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, November 10th. SSR Mining’s dividend payout ratio (DPR) is presently 28.28%.
Institutional Investors Weigh In On SSR Mining
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Alaska Permanent Fund Corp raised its position in SSR Mining by 2.5% during the 3rd quarter. Alaska Permanent Fund Corp now owns 863,132 shares of the basic materials company’s stock valued at $11,471,000 after purchasing an additional 21,283 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of SSR Mining by 3.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 122,739 shares of the basic materials company’s stock valued at $1,631,000 after acquiring an additional 4,423 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of SSR Mining by 3.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,644,819 shares of the basic materials company’s stock valued at $48,455,000 after acquiring an additional 111,218 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of SSR Mining by 13.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,248 shares of the basic materials company’s stock valued at $564,000 after acquiring an additional 5,033 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of SSR Mining by 6.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 32,911 shares of the basic materials company’s stock valued at $437,000 after acquiring an additional 1,970 shares during the period. 61.39% of the stock is owned by institutional investors.
About SSR Mining
SSR Mining Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, copper, lead, and zinc deposits. Its projects include the Çöpler Gold mine located in Erzincan province, Turkey; the Marigold mine located in Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy province, Argentina.
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