SSR Mining Inc. (NASDAQ:SSRM) Receives $6.89 Average Price Target from Analysts

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned an average rating of “Reduce” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $7.01.

Several brokerages recently commented on SSRM. UBS Group lifted their target price on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th. CIBC lifted their target price on SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th.

SSR Mining Price Performance

NASDAQ SSRM opened at $6.24 on Tuesday. SSR Mining has a fifty-two week low of $3.76 and a fifty-two week high of $14.52. The stock’s 50-day moving average is $5.52 and its two-hundred day moving average is $5.24. The firm has a market cap of $1.26 billion, a P/E ratio of -3.01, a price-to-earnings-growth ratio of 0.60 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 1.78.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. The firm had revenue of $184.84 million during the quarter. On average, analysts anticipate that SSR Mining will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in shares of SSR Mining by 4.5% in the 1st quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock worth $95,619,000 after purchasing an additional 929,850 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of SSR Mining by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock worth $37,034,000 after acquiring an additional 533,880 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in SSR Mining by 45.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock valued at $37,124,000 after purchasing an additional 2,587,212 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in SSR Mining by 5.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock valued at $16,003,000 after purchasing an additional 191,409 shares in the last quarter. Finally, National Bank of Canada FI raised its position in SSR Mining by 73.7% in the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after purchasing an additional 1,118,417 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

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.