SSR Mining (NASDAQ:SSRM) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

SSR Mining (NASDAQ:SSRM) (TSE:SSO) posted its quarterly earnings results on Tuesday. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08), Zacks reports. The business had revenue of $323.19 million during the quarter, compared to analysts’ expectations of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $10.52 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The business’s fifty day moving average price is $7.84 and its two-hundred day moving average price is $6.44. The stock has a market cap of $2.13 billion, a PE ratio of -8.16 and a beta of 0.62. SSR Mining has a one year low of $3.90 and a one year high of $10.63.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SSRM shares. CIBC upped their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. Finally, UBS Group upped their target price on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, SSR Mining presently has a consensus rating of “Hold” and a consensus price target of $9.93.

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.