SSR Mining Inc to Post Q3 2018 Earnings of ($0.01) Per Share, Cormark Forecasts (SSRM)

SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) – Analysts at Cormark lowered their Q3 2018 earnings estimates for shares of SSR Mining in a note issued to investors on Monday, August 13th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of ($0.01) for the quarter, down from their previous forecast of $0.02. Cormark also issued estimates for SSR Mining’s Q4 2018 earnings at $0.00 EPS, Q1 2019 earnings at $0.08 EPS, Q2 2019 earnings at $0.09 EPS, Q3 2019 earnings at $0.09 EPS, Q4 2019 earnings at $0.09 EPS and FY2019 earnings at $0.35 EPS.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Thursday, August 9th. The basic materials company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. The firm had revenue of $104.00 million for the quarter, compared to analyst estimates of $107.90 million. SSR Mining had a return on equity of 2.50% and a net margin of 4.98%. The company’s revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 EPS.

Several other equities analysts have also commented on the company. BidaskClub lowered SSR Mining from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine lowered SSR Mining from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Finally, TheStreet lowered SSR Mining from a “b-” rating to a “c” rating in a research report on Monday, June 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. SSR Mining has an average rating of “Hold” and a consensus price target of $12.50.

Shares of SSR Mining stock opened at $8.42 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 7.60 and a current ratio of 10.40. The stock has a market cap of $1.23 billion, a PE ratio of 24.76 and a beta of -0.46. SSR Mining has a 12 month low of $7.64 and a 12 month high of $11.44.

A number of institutional investors and hedge funds have recently bought and sold shares of SSRM. Global X Management Co. LLC bought a new position in SSR Mining during the 1st quarter worth approximately $22,978,000. Van ECK Associates Corp grew its position in SSR Mining by 11.5% during the 1st quarter. Van ECK Associates Corp now owns 15,953,971 shares of the basic materials company’s stock worth $153,158,000 after acquiring an additional 1,642,024 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in SSR Mining by 69.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,349,595 shares of the basic materials company’s stock worth $23,166,000 after acquiring an additional 961,179 shares during the last quarter. CIBC Asset Management Inc grew its position in SSR Mining by 919.2% during the 1st quarter. CIBC Asset Management Inc now owns 499,413 shares of the basic materials company’s stock worth $4,803,000 after acquiring an additional 450,413 shares during the last quarter. Finally, OppenheimerFunds Inc. bought a new position in SSR Mining during the 1st quarter worth approximately $4,320,000. Institutional investors and hedge funds own 49.04% of the company’s stock.

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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