SSR Mining Inc. (NASDAQ:SSRM – Get Rating) (TSE:SSO) – Research analysts at Cormark reduced their FY2022 EPS estimates for SSR Mining in a research note issued to investors on Monday, September 26th. Cormark analyst R. Gray now forecasts that the basic materials company will earn $0.90 per share for the year, down from their previous estimate of $1.06. The consensus estimate for SSR Mining's current full-year earnings is $0.99 per share. Cormark also issued estimates for SSR Mining's Q4 2022 earnings at $0.23 EPS, Q1 2023 earnings at $0.31 EPS, Q2 2023 earnings at $0.30 EPS, Q3 2023 earnings at $0.31 EPS, Q4 2023 earnings at $0.31 EPS and FY2023 earnings at $1.23 EPS.
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A number of other analysts have also recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of SSR Mining from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, September 23rd. UBS Group began coverage on shares of SSR Mining in a research report on Tuesday, May 31st. They issued a "buy" rating and a $30.50 target price for the company. TheStreet lowered shares of SSR Mining from a "b-" rating to a "c+" rating in a research report on Tuesday, August 30th. Finally, National Bank Financial decreased their target price on shares of SSR Mining from C$32.50 to C$27.50 in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.36.
SSR Mining Trading Up 0.8 %
NASDAQ SSRM opened at $13.22 on Tuesday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96. SSR Mining has a 12 month low of $12.86 and a 12 month high of $24.58. The company's fifty day moving average price is $14.79 and its two-hundred day moving average price is $18.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 5.17.
SSR Mining Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Friday, August 12th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.28 dividend on an annualized basis and a yield of 2.12%. SSR Mining's dividend payout ratio is currently 19.72%.
Insiders Place Their Bets
In related news, COO Steward John Beckman sold 5,400 shares of SSR Mining stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $16.01, for a total value of $86,454.00. Following the completion of the transaction, the chief operating officer now directly owns 146,255 shares of the company's stock, valued at $2,341,542.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 16,868 shares of company stock worth $260,318 over the last 90 days. Corporate insiders own 0.51% of the company's stock.
Hedge Funds Weigh In On SSR Mining
Large investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new stake in SSR Mining in the 1st quarter valued at $33,000. CoreCap Advisors LLC acquired a new stake in SSR Mining during the second quarter worth about $25,000. Twin Tree Management LP acquired a new stake in SSR Mining during the second quarter worth about $28,000. American International Group Inc. acquired a new stake in SSR Mining during the second quarter worth about $37,000. Finally, Rational Advisors LLC boosted its stake in shares of SSR Mining by 54.9% in the 1st quarter. Rational Advisors LLC now owns 2,232 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 791 shares in the last quarter. Institutional investors and hedge funds own 57.70% of the company's stock.
SSR Mining Company Profile
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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, Turkey; the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.
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