SSR Mining Inc. (NASDAQ:SSRM) Receives $6.63 Consensus Target Price from Analysts

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

SSRM has been the subject of several recent analyst reports. Scotiabank cut shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. UBS Group cut shares of SSR Mining from a “buy” rating to a “neutral” rating and cut their price target for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. TheStreet lowered SSR Mining from a “c” rating to a “d” rating in a research report on Wednesday, February 28th. Royal Bank of Canada reissued an “underperform” rating and issued a $3.00 price objective (down from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. Finally, National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th.

Hedge Funds Weigh In On SSR Mining

A number of institutional investors and hedge funds have recently made changes to their positions in SSRM. Van ECK Associates Corp increased its position in SSR Mining by 0.9% in the 3rd quarter. Van ECK Associates Corp now owns 21,178,035 shares of the basic materials company’s stock valued at $281,455,000 after buying an additional 180,685 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of SSR Mining by 1.1% during the third quarter. Vanguard Group Inc. now owns 7,686,085 shares of the basic materials company’s stock valued at $102,148,000 after acquiring an additional 80,649 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of SSR Mining during the fourth quarter worth approximately $50,352,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of SSR Mining by 3.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,644,819 shares of the basic materials company’s stock worth $48,455,000 after purchasing an additional 111,218 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of SSR Mining by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 3,397,212 shares of the basic materials company’s stock worth $36,470,000 after purchasing an additional 18,503 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.

SSR Mining Trading Up 1.1 %

Shares of SSRM stock opened at $5.63 on Tuesday. SSR Mining has a 1-year low of $3.76 and a 1-year high of $17.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99. The stock has a 50-day moving average of $4.65 and a 200-day moving average of $8.70.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating 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 for the quarter. During the same quarter in the previous year, the company earned $0.12 earnings per share. As a group, analysts expect that SSR Mining will post 0.18 earnings per share for the current year.

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.