SSR Mining Inc. (NASDAQ:SSRM) Receives $6.85 Consensus Target Price from Analysts

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have received a consensus rating of “Hold” from the four brokerages that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $9.93.

Several equities research analysts have recently weighed in on SSRM shares. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. CIBC increased their price objective on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday, February 19th. UBS Group increased 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. Finally, Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $5.50 to $8.00 in a report on Wednesday, February 5th.

SSR Mining Price Performance

SSRM stock opened at $10.23 on Monday. The business has a 50 day moving average price of $7.95 and a 200 day moving average price of $6.54. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -7.93, a PEG ratio of 0.37 and a beta of 0.62. SSR Mining has a fifty-two week low of $3.90 and a fifty-two week high of $10.91. 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 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). 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 analysts’ expectations of $262.20 million. Equities research analysts anticipate that SSR Mining will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

Several large investors have recently modified their holdings of SSRM. US Bancorp DE raised its stake in shares of 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. SBI Securities Co. Ltd. purchased a new position in SSR Mining in the fourth quarter worth $29,000. Allianz SE purchased a new position in SSR Mining in the fourth quarter worth $30,000. Point72 DIFC Ltd purchased a new position in SSR Mining in the third quarter worth $47,000. Finally, SeaCrest Wealth Management LLC purchased a new position in SSR Mining in the third quarter worth $57,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.