SSR Mining Inc (SSRM) Expected to Post Earnings of $0.03 Per Share

Wall Street brokerages expect SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) to announce $0.03 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for SSR Mining’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.03. SSR Mining posted earnings of $0.04 per share during the same quarter last year, which indicates a negative year over year growth rate of 25%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, November 8th.

On average, analysts expect that SSR Mining will report full-year earnings of $0.22 per share for the current fiscal year. For the next year, analysts anticipate that the firm will post earnings of $0.28 per share, with EPS estimates ranging from $0.21 to $0.35. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow SSR Mining.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its 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. The firm had revenue of $115.03 million during the quarter, compared to the consensus estimate of $113.00 million. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share.

SSRM has been the subject of a number of research analyst reports. Zacks Investment Research upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Howard Weil upgraded SSR Mining from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, October 12th. Scotiabank upgraded SSR Mining from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 12th. ValuEngine upgraded SSR Mining from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Finally, BidaskClub upgraded SSR Mining from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 19th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.88.

SSRM traded up $0.69 during trading on Friday, reaching $10.42. The stock had a trading volume of 1,395,117 shares, compared to its average volume of 833,796. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 30.65 and a beta of -0.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.67 and a quick ratio of 6.20. SSR Mining has a 1-year low of $7.64 and a 1-year high of $11.44.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP bought a new position in shares of SSR Mining in the third quarter valued at $199,000. Raymond James & Associates increased its holdings in shares of 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 buying an additional 6,300 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 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 buying an additional 22,595 shares in the last quarter. BlackRock Inc. increased its holdings in shares of 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 buying an additional 14,600 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of SSR Mining by 76.0% in the second quarter. Bank of America Corp DE now owns 26,823 shares of the basic materials company’s stock valued at $265,000 after buying an additional 11,580 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

About SSR Mining

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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