Brokerages Set SSR Mining Inc. (NASDAQ:SSRM) PT at $6.63

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have received an average recommendation of “Reduce” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.63.

SSRM has been the topic of a number of recent research reports. UBS Group downgraded SSR Mining from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $17.00 to $5.00 in a research note on Thursday, February 22nd. TD Securities downgraded SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. CIBC cut SSR Mining from a “sector outperform” rating to a “neutral” rating and reduced their price target for the stock from $18.50 to $6.00 in a report on Wednesday, February 14th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. Finally, TheStreet cut SSR Mining from a “c” rating to a “d” rating in a report on Wednesday, February 28th.

Hedge Funds Weigh In On SSR Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of SSR Mining by 0.9% in the third quarter. Van ECK Associates Corp now owns 21,178,035 shares of the basic materials company’s stock valued at $281,455,000 after acquiring an additional 180,685 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of SSR Mining by 1.1% in 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 purchased a new position in shares of SSR Mining in the fourth quarter valued at approximately $50,352,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of SSR Mining by 3.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,644,819 shares of the basic materials company’s stock valued at $48,455,000 after acquiring an additional 111,218 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of SSR Mining by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 3,397,212 shares of the basic materials company’s stock valued at $36,470,000 after acquiring an additional 18,503 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Stock Up 0.9 %

Shares of SSRM opened at $5.57 on Tuesday. SSR Mining has a 52 week low of $3.76 and a 52 week high of $17.72. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -10.92, a PEG ratio of 1.70 and a beta of 0.82. The stock’s 50-day moving average price is $4.63 and its 200-day moving average price is $8.78.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $425.90 million for the quarter. During the same quarter in the previous year, the company earned $0.12 EPS. On average, sell-side analysts predict that SSR Mining will post 0.18 EPS 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.