SSR Mining (NASDAQ:SSRM) Announces Quarterly Earnings Results

SSR Mining (NASDAQ:SSRM) (TSE:SSO) issued its quarterly earnings results on Tuesday. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08), Zacks reports. SSR Mining had a negative net margin of 44.13% and a positive return on equity of 4.05%.

SSR Mining Trading Up 2.1 %

NASDAQ:SSRM traded up $0.19 during trading hours on Tuesday, hitting $9.33. The stock had a trading volume of 3,692,630 shares, compared to its average volume of 2,618,440. SSR Mining has a one year low of $3.90 and a one year high of $9.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -3.90 and a beta of 0.62. The business’s 50 day moving average is $7.75 and its 200-day moving average is $6.38.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SSRM. UBS Group boosted their price objective on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $5.50 to $8.00 in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, SSR Mining has an average rating of “Hold” and an average target price of $8.60.

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.