SSR Mining Inc (NASDAQ:SSRM) Forecasted to Post FY2019 Earnings of $0.69 Per Share

SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) – B. Riley decreased their FY2019 earnings estimates for shares of SSR Mining in a research report issued to clients and investors on Wednesday, November 13th. B. Riley analyst A. Graf now expects that the basic materials company will earn $0.69 per share for the year, down from their prior forecast of $0.70. B. Riley has a “Buy” rating and a $23.00 price objective on the stock. B. Riley also issued estimates for SSR Mining’s Q4 2019 earnings at $0.17 EPS.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, November 5th. The basic materials company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.09. SSR Mining had a net margin of 6.13% and a return on equity of 6.38%. The company had revenue of $147.85 million for the quarter, compared to analyst estimates of $195.93 million. During the same period in the prior year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was up 28.5% compared to the same quarter last year.

SSRM has been the topic of a number of other research reports. BidaskClub downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. National Bank Financial increased their price target on shares of SSR Mining from $28.00 to $28.50 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Scotiabank raised shares of SSR Mining from a “sector perform” rating to a “sector outperform” rating and set a $17.00 price target on the stock in a research note on Tuesday, September 10th. TheStreet raised shares of SSR Mining from a “c” rating to a “b-” rating in a research note on Monday, August 12th. Finally, Citigroup increased their price target on shares of SSR Mining from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. SSR Mining currently has an average rating of “Buy” and an average target price of $19.56.

Shares of SSRM opened at $14.89 on Friday. The company has a current ratio of 3.98, a quick ratio of 2.86 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.85 billion, a P/E ratio of 64.74 and a beta of -0.44. SSR Mining has a twelve month low of $10.21 and a twelve month high of $17.56. The firm’s 50-day moving average is $14.72 and its two-hundred day moving average is $14.11.

Large investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. purchased a new position in SSR Mining during the third quarter worth approximately $33,000. Usca Ria LLC acquired a new stake in shares of SSR Mining in the third quarter worth $44,000. FNY Investment Advisers LLC increased its position in shares of SSR Mining by 1,900.0% in the second quarter. FNY Investment Advisers LLC now owns 5,000 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 4,750 shares in the last quarter. Aperio Group LLC acquired a new stake in shares of SSR Mining in the second quarter worth $122,000. Finally, USA Financial Portformulas Corp increased its position in shares of SSR Mining by 18.5% in the second quarter. USA Financial Portformulas Corp now owns 17,772 shares of the basic materials company’s stock worth $225,000 after acquiring an additional 2,780 shares in the last quarter. 56.21% 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; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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Earnings History and Estimates for SSR Mining (NASDAQ:SSRM)

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