SSR Mining (NASDAQ:SSRM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a buy rating in a research note released on Tuesday.

A number of other analysts also recently issued reports on the stock. Cormark upgraded shares of SSR Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, April 22nd. National Bank Financial upgraded shares of SSR Mining to a “hold” rating in a report on Friday, March 21st. National Bankshares restated a “sector perform” rating on shares of SSR Mining in a report on Wednesday, April 23rd. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their target price for the stock from $5.50 to $8.00 in a research note on Wednesday, February 5th. Finally, UBS Group lifted their target price on shares of SSR Mining from $12.10 to $12.35 and gave the stock a “buy” rating in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.03.

SSR Mining Stock Performance

NASDAQ SSRM opened at $10.55 on Tuesday. SSR Mining has a 52-week low of $4.32 and a 52-week high of $11.61. The company has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $8.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The company has a market capitalization of $2.14 billion, a PE ratio of -8.18, a price-to-earnings-growth ratio of 0.37 and a beta of -0.15.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.21. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The business had revenue of $303.43 million during the quarter, compared to the consensus estimate of $332.64 million. On average, research analysts predict that SSR Mining will post 0.73 EPS for the current year.

Hedge Funds Weigh In On SSR Mining

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of SSR Mining by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company’s stock worth $72,216,000 after purchasing an additional 71,364 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SSR Mining by 21.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company’s stock valued at $70,265,000 after acquiring an additional 1,802,821 shares during the period. Cibc World Market Inc. boosted its position in shares of SSR Mining by 22.1% in the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after acquiring an additional 674,793 shares during the period. Federated Hermes Inc. boosted its position in shares of SSR Mining by 53.9% in the fourth quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company’s stock valued at $25,551,000 after acquiring an additional 1,285,347 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of SSR Mining by 14.7% in the fourth quarter. Tidal Investments LLC now owns 3,174,367 shares of the basic materials company’s stock valued at $22,094,000 after acquiring an additional 407,920 shares during the period. Hedge funds and other institutional investors 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.