UBS Group Raises SSR Mining (NASDAQ:SSRM) Price Target to $12.05

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its price target increased by UBS Group from $7.15 to $12.05 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other brokerages have also recently commented on SSRM. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price target for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, SSR Mining has an average rating of “Hold” and an average target price of $9.93.

SSR Mining Trading Down 0.2 %

Shares of NASDAQ SSRM opened at $10.50 on Tuesday. SSR Mining has a 1-year low of $3.90 and a 1-year high of $10.91. The company has a market cap of $2.12 billion, a PE ratio of -8.14 and a beta of 0.62. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $7.89 and a two-hundred day moving average of $6.47.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. As a group, equities analysts expect that SSR Mining will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SSRM. US Bancorp DE lifted its position in shares of SSR Mining by 62.4% in 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of SSR Mining in the fourth quarter worth $29,000. Allianz SE bought a new stake in shares of SSR Mining in the fourth quarter worth $30,000. Point72 DIFC Ltd bought a new stake in shares of SSR Mining in the third quarter worth $47,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of SSR Mining in the third quarter worth $60,000. Institutional investors and hedge funds 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.