SSR Mining Inc. (NASDAQ:SSRM) Receives $10.03 Consensus Price Target from Analysts

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $10.03.

A number of equities analysts have issued reports on the stock. Cormark upgraded shares of SSR Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 22nd. Wall Street Zen cut shares of SSR Mining from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. National Bankshares restated a “sector perform” rating on shares of SSR Mining in a research report on Wednesday, April 23rd. UBS Group boosted their target price on shares of SSR Mining from $12.10 to $12.35 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, National Bank Financial upgraded shares of SSR Mining to a “hold” rating in a research note on Friday, March 21st.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SSRM. Bleakley Financial Group LLC boosted its stake in SSR Mining by 24.8% during the 4th quarter. Bleakley Financial Group LLC now owns 25,461 shares of the basic materials company’s stock valued at $178,000 after acquiring an additional 5,066 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of SSR Mining by 1.1% in the 4th quarter. Rhumbline Advisers now owns 325,929 shares of the basic materials company’s stock worth $2,268,000 after acquiring an additional 3,681 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of SSR Mining by 47.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 46,715 shares of the basic materials company’s stock worth $325,000 after acquiring an additional 15,128 shares during the period. CIBC Asset Management Inc increased its holdings in shares of SSR Mining by 0.5% in the 4th quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock worth $1,729,000 after acquiring an additional 1,282 shares during the period. Finally, Alberta Investment Management Corp increased its holdings in shares of SSR Mining by 72.3% in the 4th quarter. Alberta Investment Management Corp now owns 246,700 shares of the basic materials company’s stock worth $1,722,000 after acquiring an additional 103,500 shares during the period. 68.30% of the stock is currently owned by institutional investors.

SSR Mining Stock Up 2.3%

SSRM stock opened at $12.71 on Thursday. The company has a market cap of $2.58 billion, a P/E ratio of -9.85, a P/E/G ratio of 0.37 and a beta of -0.13. SSR Mining has a 52 week low of $4.32 and a 52 week high of $13.33. The company’s 50-day moving average price is $11.12 and its 200 day moving average price is $9.44. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.21. The company had revenue of $303.43 million during the quarter, compared to analysts’ expectations of $332.64 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. On average, research analysts expect that SSR Mining will post 0.73 earnings per share for the current fiscal year.

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.