Brokers Issue Forecasts for SSR Mining Inc’s Q3 2018 Earnings (SSRM)

SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) – Analysts at Cormark upped their Q3 2018 earnings per share (EPS) estimates for shares of SSR Mining in a research note issued on Tuesday, October 16th, Zacks Investment Research reports. Cormark analyst R. Gray now expects that the basic materials company will post earnings of $0.02 per share for the quarter, up from their prior forecast of ($0.01).

Other research analysts have also issued reports about the company. BidaskClub lowered SSR Mining from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. ValuEngine lowered SSR Mining from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Howard Weil raised SSR Mining from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, October 12th. Zacks Investment Research lowered SSR Mining from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Finally, Citigroup cut their target price on SSR Mining from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 29th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.88.

Shares of SSRM traded up $0.69 during trading hours on Thursday, hitting $10.42. The stock had a trading volume of 1,395,117 shares, compared to its average volume of 937,777. The company has a current ratio of 8.67, a quick ratio of 6.20 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.19 billion, a P/E ratio of 30.65 and a beta of -0.41. SSR Mining has a 12-month low of $7.64 and a 12-month high of $11.44.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Thursday, November 8th. The basic materials company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The company had revenue of $115.03 million for the quarter, compared to analyst estimates of $113.00 million. During the same quarter in the prior year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year.

Large investors have recently added to or reduced their stakes in the business. Natixis purchased a new position in SSR Mining in the first quarter valued at about $145,000. Engineers Gate Manager LP purchased a new position in SSR Mining in the third quarter valued at about $199,000. Raymond James & Associates raised its position in SSR Mining by 36.6% in the second quarter. Raymond James & Associates now owns 23,536 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 6,300 shares during the period. Tower Research Capital LLC TRC raised its position in SSR Mining by 2,013.8% in the second quarter. Tower Research Capital LLC TRC now owns 23,717 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 22,595 shares during the period. Finally, BlackRock Inc. raised its position in SSR Mining by 133.3% in the second quarter. BlackRock Inc. now owns 25,553 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 14,600 shares during the period. 47.08% of the stock is currently owned by institutional investors.

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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