SSR Mining (NASDAQ:SSRM) Shares Up 5.9%

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SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO)’s stock price shot up 5.9% during trading on Wednesday . The company traded as high as $14.90 and last traded at $14.87, 1,718,918 shares traded hands during mid-day trading. An increase of 80% from the average session volume of 955,582 shares. The stock had previously closed at $14.04.

A number of brokerages have issued reports on SSRM. Zacks Investment Research downgraded German American Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Scotiabank restated a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, April 2nd. BidaskClub upgraded Workhorse Group from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup restated a “buy” rating and set a $25.00 price objective on shares of Propetro in a research report on Tuesday, July 2nd. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $15.74.

The firm has a market capitalization of $1.80 billion, a PE ratio of 64.65 and a beta of -0.36. The firm’s 50 day moving average is $12.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.04 and a current ratio of 4.36.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Thursday, May 9th. The basic materials company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. The firm had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $127.70 million. SSR Mining had a return on equity of 4.38% and a net margin of 3.43%. The company’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, sell-side analysts forecast that SSR Mining Inc will post 0.46 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FIL Ltd bought a new position in shares of SSR Mining during the first quarter valued at approximately $123,000. Advisory Services Network LLC grew its stake in SSR Mining by 138.6% in the fourth quarter. Advisory Services Network LLC now owns 14,096 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 8,188 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in SSR Mining in the first quarter worth approximately $239,000. LPL Financial LLC bought a new position in SSR Mining in the fourth quarter worth approximately $239,000. Finally, Cetera Advisors LLC bought a new position in SSR Mining in the first quarter worth approximately $281,000. 55.36% of the stock is currently owned by hedge funds and other institutional investors.

About SSR Mining (NASDAQ:SSRM)

SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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