SSR Mining (NASDAQ:SSRM) Price Target Raised to $12.05 at UBS Group

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its price target increased by equities research analysts at UBS Group from $7.15 to $12.05 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target would indicate a potential upside of 31.84% from the stock’s previous close.

A number of other analysts have 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. Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price target for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.60.

SSR Mining Stock Performance

Shares of SSRM opened at $9.14 on Tuesday. The stock has a 50-day moving average of $7.75 and a two-hundred day moving average of $6.38. SSR Mining has a one year low of $3.90 and a one year high of $9.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The stock has a market cap of $1.85 billion, a P/E ratio of -3.82 and a beta of 0.62.

Hedge Funds Weigh In On SSR Mining

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of SSR Mining by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company’s stock valued at $72,216,000 after buying an additional 71,364 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of SSR Mining by 21.8% in the 4th 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 purchasing an additional 1,802,821 shares in the last quarter. Cibc World Market Inc. increased its stake in shares of SSR Mining by 22.1% in the 4th quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after purchasing an additional 674,793 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of SSR Mining by 53.9% in the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company’s stock valued at $25,551,000 after purchasing an additional 1,285,347 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after purchasing an additional 462,000 shares in the last quarter. Institutional investors and hedge funds 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.