SSR Mining (NASDAQ:SSRM) Trading Up 3.7%

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) shot up 3.7% on Friday . The company traded as high as $5.36 and last traded at $5.33. 1,168,139 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 4,743,107 shares. The stock had previously closed at $5.14.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SSRM. CIBC downgraded SSR Mining from a “sector outperform” rating to a “neutral” rating and cut their price objective for the company from $18.50 to $6.00 in a research note on Wednesday, February 14th. Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. Royal Bank of Canada reissued an “underperform” rating and issued a $3.00 price objective (down from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. Finally, Desjardins downgraded SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.63.

SSR Mining Trading Up 5.1 %

The company has a market cap of $1.09 billion, a P/E ratio of -10.08, a P/E/G ratio of 1.32 and a beta of 0.82. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $4.74 and a two-hundred day moving average price of $9.12.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. The business had revenue of $425.90 million during the quarter. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. During the same quarter in the prior year, the company posted $0.12 EPS. On average, analysts predict that SSR Mining Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On SSR Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its holdings in SSR Mining by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 106,394 shares of the basic materials company’s stock valued at $1,565,000 after purchasing an additional 838 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in SSR Mining by 3.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,346 shares of the basic materials company’s stock valued at $416,000 after purchasing an additional 924 shares during the last quarter. Voya Investment Management LLC increased its holdings in SSR Mining by 4.2% in the fourth quarter. Voya Investment Management LLC now owns 28,427 shares of the basic materials company’s stock valued at $445,000 after purchasing an additional 1,134 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in SSR Mining by 9.8% in the first quarter. Great West Life Assurance Co. Can now owns 12,841 shares of the basic materials company’s stock valued at $297,000 after acquiring an additional 1,143 shares during the period. Finally, Creative Planning grew its stake in SSR Mining by 10.0% in the fourth quarter. Creative Planning now owns 14,319 shares of the basic materials company’s stock valued at $224,000 after acquiring an additional 1,299 shares during the period. Institutional investors own 68.30% of the company’s stock.

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.