UBS Group Increases SSR Mining (NASDAQ:SSRM) Price Target to $12.35

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its price objective raised by stock analysts at UBS Group from $12.10 to $12.35 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price suggests a potential upside of 15.11% from the stock’s current price.

A number of other equities research analysts also recently commented on SSRM. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. National Bank Financial raised SSR Mining to a “hold” rating in a research note on Friday, March 21st. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. Finally, CIBC increased their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.03.

SSR Mining Trading Up 5.4 %

NASDAQ:SSRM traded up $0.55 on Friday, reaching $10.73. The stock had a trading volume of 547,052 shares, compared to its average volume of 2,760,412. SSR Mining has a 12-month low of $4.32 and a 12-month high of $11.48. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -8.25, a P/E/G ratio of 0.37 and a beta of 0.30. The firm’s fifty day moving average is $10.01 and its two-hundred day moving average is $7.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. Equities analysts expect that SSR Mining will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On SSR Mining

Hedge funds have recently made changes to their positions in the business. US Bancorp DE lifted its position 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in SSR Mining in the 4th quarter worth $29,000. Allianz SE purchased a new position in SSR Mining in the 4th quarter valued at about $30,000. Lincoln Capital LLC acquired a new stake in shares of SSR Mining during the fourth quarter valued at about $70,000. Finally, Merit Financial Group LLC purchased a new stake in shares of SSR Mining during the first quarter worth about $113,000. 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.