Brokers Set Expectations for SSR Mining Inc’s Q3 2018 Earnings (SSRM)

SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) – Equities research analysts at Cormark upped their Q3 2018 earnings per share (EPS) estimates for SSR Mining in a note issued to investors on Tuesday, October 16th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of $0.02 for the quarter, up from their previous forecast of ($0.01).

A number of other analysts have also recently weighed in on the stock. ValuEngine raised shares of SSR Mining from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Howard Weil raised shares of SSR Mining from a “sector perform” rating to a “sector outperform” rating in a report on Friday, October 12th. BMO Capital Markets increased their target price on shares of SSR Mining from $11.75 to $12.50 and gave the stock an “outperform” rating in a report on Friday, October 12th. They noted that the move was a valuation call. Scotiabank raised shares of SSR Mining from a “sector perform” rating to an “outperform” rating in a report on Friday, October 12th. Finally, BidaskClub raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $11.88.

Shares of NASDAQ:SSRM opened at $10.79 on Thursday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 31.44 and a beta of -0.36. SSR Mining has a 1-year low of $7.64 and a 1-year high of $11.44. 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 (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Thursday, August 9th. The basic materials company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.08. The company had revenue of $104.00 million for the quarter, compared to analysts’ expectations of $107.90 million. SSR Mining had a net margin of 4.98% and a return on equity of 2.51%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share.

Hedge funds have recently added to or reduced their stakes in the stock. Natixis acquired a new stake in shares of SSR Mining in the 1st quarter worth about $145,000. Raymond James & Associates increased its holdings in shares of SSR Mining by 36.6% in the 2nd quarter. Raymond James & Associates now owns 23,536 shares of the basic materials company’s stock worth $232,000 after acquiring an additional 6,300 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of SSR Mining by 2,013.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 23,717 shares of the basic materials company’s stock worth $234,000 after acquiring an additional 22,595 shares during the period. BlackRock Inc. increased its holdings in shares of SSR Mining by 133.3% in the 2nd quarter. BlackRock Inc. now owns 25,553 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 14,600 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of SSR Mining by 76.0% in the 2nd quarter. Bank of America Corp DE now owns 26,823 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 11,580 shares during the period. 47.53% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Company Profile

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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Earnings History and Estimates for SSR Mining (NASDAQ:SSRM)

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