SSR Mining (NASDAQ:SSRM) Stock Price Up 3.9% – Should You Buy?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) was up 3.9% during mid-day trading on Thursday . The company traded as high as $10.77 and last traded at $10.64. Approximately 911,446 shares changed hands during trading, a decline of 67% from the average daily volume of 2,742,974 shares. The stock had previously closed at $10.24.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SSRM shares. UBS Group upped their price target on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a report on Tuesday, February 18th. CIBC increased their target price on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. Finally, StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.93.

SSR Mining Stock Performance

The stock has a market capitalization of $2.17 billion, a P/E ratio of -8.31, a P/E/G ratio of 0.37 and a beta of 0.53. The stock has a 50 day simple moving average of $8.87 and a two-hundred day simple moving average of $7.04. 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 issued its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The business had revenue of $323.19 million for the quarter, compared to the consensus estimate of $262.20 million. On average, equities analysts forecast that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On SSR Mining

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

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.