SSR Mining (NASDAQ:SSRM) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

SSR Mining (NASDAQ:SSRM) (TSE:SSO) announced its earnings results on Tuesday. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.21, Zacks reports. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The company had revenue of $303.43 million during the quarter, compared to analyst estimates of $332.64 million.

SSR Mining Stock Performance

NASDAQ SSRM opened at $10.92 on Wednesday. The business’s 50 day moving average price is $10.35 and its 200-day moving average price is $8.35. SSR Mining has a fifty-two week low of $4.32 and a fifty-two week high of $11.48. The company has a market cap of $2.21 billion, a P/E ratio of -8.47, a P/E/G ratio of 0.37 and a beta of -0.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70.

Analysts Set New Price Targets

SSRM has been the topic of several analyst reports. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. UBS Group lifted their price objective on SSR Mining from $12.10 to $12.35 and gave the company a “buy” rating in a research report on Friday, April 11th. National Bankshares restated a “sector perform” rating on shares of SSR Mining in a research note on Wednesday, April 23rd. Cormark raised shares of SSR Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, April 22nd. Finally, StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.03.

SSR Mining Company Profile

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.