SSR Mining (NASDAQ:SSRM) Stock Price Up 3.3% – What’s Next?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s stock price rose 3.3% during mid-day trading on Tuesday . The company traded as high as $11.32 and last traded at $11.16. Approximately 242,126 shares changed hands during trading, a decline of 91% from the average daily volume of 2,699,237 shares. The stock had previously closed at $10.81.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. UBS Group raised their price objective on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. CIBC lifted their price target on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, National Bank Financial raised SSR Mining to a “hold” rating in a research note on Friday, March 21st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, SSR Mining currently has a consensus rating of “Hold” and a consensus price target of $9.93.

SSR Mining Price Performance

The stock has a market capitalization of $2.20 billion, a P/E ratio of -8.43, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. The business’s 50 day simple moving average is $9.46 and its two-hundred day simple moving average is $7.38. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly 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 business had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. As a group, sell-side analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

Several institutional investors have recently bought and sold shares of SSRM. US Bancorp DE boosted its holdings in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in SSR Mining during the fourth quarter worth about $29,000. Allianz SE purchased a new position in SSR Mining during the fourth quarter worth about $30,000. Point72 DIFC Ltd bought a new stake in SSR Mining in the 3rd quarter worth about $47,000. Finally, Lincoln Capital LLC purchased a new stake in SSR Mining in the 4th quarter valued at about $70,000. 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.