SSR Mining Inc. (NASDAQ:SSRM) Receives $6.85 Average PT from Analysts

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have earned a consensus rating of “Hold” from the four brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.93.

Several analysts recently issued reports on SSRM shares. CIBC upped their target price on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Finally, UBS Group increased their target price on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday.

Hedge Funds Weigh In On SSR Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in shares of SSR Mining by 0.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company’s stock worth $1,686,000 after buying an additional 1,200 shares in the last quarter. Xponance Inc. grew its position in SSR Mining by 9.3% during the 4th quarter. Xponance Inc. now owns 14,387 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 1,222 shares during the last quarter. CIBC Asset Management Inc increased its holdings in SSR Mining by 0.5% in the 4th quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock worth $1,729,000 after purchasing an additional 1,282 shares in the last quarter. US Bancorp DE raised its position in SSR Mining by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares during the last quarter. Finally, HB Wealth Management LLC grew its holdings in shares of SSR Mining by 11.3% during the fourth quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 1,463 shares during the last quarter. Institutional investors own 68.30% of the company’s stock.

SSR Mining Price Performance

Shares of SSRM stock opened at $10.23 on Monday. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -7.93 and a beta of 0.62. The stock has a 50-day moving average price of $7.89 and a 200 day moving average price of $6.47. SSR Mining has a 12 month low of $3.90 and a 12 month high of $10.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $323.19 million during the quarter, compared to analyst estimates of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. Research analysts expect that SSR Mining will post 0.73 EPS for the current year.

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.