Brokerages Set SSR Mining Inc. (NASDAQ:SSRM) Price Target at $6.63

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have been given a consensus rating of “Reduce” by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.63.

A number of equities research analysts have weighed in on SSRM shares. CIBC downgraded SSR Mining from a “sector outperform” rating to a “neutral” rating and reduced their target price for the company from $18.50 to $6.00 in a report on Wednesday, February 14th. Desjardins cut shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. TD Securities lowered shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, UBS Group cut shares of SSR Mining from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $5.00 in a research note on Thursday, February 22nd.

Institutional Trading of SSR Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. grew its stake in SSR Mining by 321.9% in the 3rd quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock worth $8,599,000 after buying an additional 493,695 shares in the last quarter. Scotia Capital Inc. grew its position in SSR Mining by 210.5% in the third quarter. Scotia Capital Inc. now owns 351,768 shares of the basic materials company’s stock worth $4,660,000 after acquiring an additional 238,481 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in SSR Mining in the fourth quarter valued at $50,352,000. Hsbc Holdings PLC purchased a new stake in SSR Mining during the third quarter valued at about $259,000. Finally, U S Global Investors Inc. bought a new stake in SSR Mining during the fourth quarter worth about $3,405,000. Institutional investors own 68.30% of the company’s stock.

SSR Mining Trading Up 0.9 %

Shares of SSR Mining stock opened at $5.52 on Tuesday. SSR Mining has a 1 year low of $3.76 and a 1 year high of $17.72. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -10.82, a P/E/G ratio of 1.65 and a beta of 0.82. The business has a fifty day simple moving average of $4.62 and a two-hundred day simple moving average of $8.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The business had revenue of $425.90 million during the quarter. During the same period in the previous year, the business posted $0.12 earnings per share. Research analysts forecast that SSR Mining will post 0.18 EPS for the current year.

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.