SSR Mining (NASDAQ:SSRM) Announces Quarterly Earnings Results, Misses Estimates By $0.12 EPS

SSR Mining (NASDAQ:SSRM) (TSE:SSO) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.12), reports. SSR Mining had a negative net margin of 44.13% and a positive return on equity of 4.02%. The business had revenue of $257.36 million during the quarter.

SSR Mining Stock Down 14.0 %

Shares of NASDAQ:SSRM opened at $5.28 on Friday. The company has a quick ratio of 1.78, a current ratio of 3.54 and a debt-to-equity ratio of 0.08. SSR Mining has a 52-week low of $3.76 and a 52-week high of $12.18. The company has a 50 day moving average of $5.79 and a two-hundred day moving average of $5.35. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.21, a price-to-earnings-growth ratio of 0.91 and a beta of 0.72.

Analysts Set New Price Targets

Separately, UBS Group raised their price target on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, SSR Mining currently has an average rating of “Hold” and an average price target of $7.01.

Institutional Trading of SSR Mining

Several large investors have recently bought and sold shares of the company. Drive Wealth Management LLC acquired a new stake in SSR Mining in the third quarter valued at approximately $74,000. TrinityPoint Wealth LLC acquired a new stake in shares of SSR Mining during the third quarter worth approximately $78,000. Parametrica Management Ltd acquired a new stake in shares of SSR Mining during the third quarter worth approximately $751,000. GSA Capital Partners LLP acquired a new stake in shares of SSR Mining during the third quarter worth approximately $572,000. Finally, State of New Jersey Common Pension Fund D grew its position in shares of SSR Mining by 92.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 31,587 shares of the basic materials company’s stock worth $179,000 after buying an additional 15,152 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

About SSR Mining

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.