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

SSR Mining (NASDAQ:SSRM) (TSE:SSO) announced its quarterly earnings results on Tuesday. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08), Zacks reports. SSR Mining had a negative net margin of 44.13% and a positive return on equity of 4.05%.

SSR Mining Stock Up 2.1 %

Shares of SSR Mining stock opened at $9.33 on Wednesday. The stock’s 50 day simple moving average is $7.75 and its 200-day simple moving average is $6.38. SSR Mining has a 1-year low of $3.90 and a 1-year high of $9.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91.

Analyst Ratings Changes

Several brokerages recently weighed in on SSRM. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. UBS Group lifted their price objective on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday. Finally, StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.60.

SSR Mining Company Profile

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.