SSR Mining (NASDAQ:SSRM) Stock Price Up 6.1%

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) shares rose 6.1% during trading on Friday . The stock traded as high as $5.77 and last traded at $5.74. Approximately 1,558,439 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 4,493,017 shares. The stock had previously closed at $5.41.

Analysts Set New Price Targets

SSRM has been the topic of several recent analyst reports. UBS Group downgraded SSR Mining from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $17.00 to $5.00 in a report on Thursday, February 22nd. Scotiabank cut shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. StockNews.com cut shares of SSR Mining from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank of Canada restated an “underperform” rating and issued a $3.00 price objective (down previously from $6.00) on shares of SSR Mining in a research report on Tuesday, February 20th. Finally, Desjardins cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.63.

SSR Mining Price Performance

The firm’s 50-day simple moving average is $4.92 and its 200 day simple moving average is $7.93. The company has a current ratio of 3.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. The business had revenue of $425.90 million during the quarter. SSR Mining had a negative net margin of 30.90% and a positive return on equity of 6.37%. During the same quarter in the prior year, the company earned $0.12 EPS. As a group, sell-side analysts forecast that SSR Mining Inc. will post 0.55 EPS for the current year.

Hedge Funds Weigh In On SSR Mining

Several institutional investors have recently modified their holdings of SSRM. Tidal Investments LLC acquired a new stake in SSR Mining during the 1st quarter worth approximately $6,485,000. Price T Rowe Associates Inc. MD increased its position in shares of SSR Mining by 18.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,324 shares of the basic materials company’s stock worth $207,000 after acquiring an additional 7,277 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of SSR Mining during the first quarter worth $294,000. Quadrature Capital Ltd lifted its position in SSR Mining by 1,318.9% in the 1st quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock valued at $2,976,000 after acquiring an additional 621,200 shares in the last quarter. Finally, Pitcairn Co. acquired a new position in SSR Mining in the 1st quarter worth $149,000. 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.