SSR Mining Inc. (NASDAQ:SSRM) Given Consensus Recommendation of "Reduce" by Brokerages

Shares of SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have been assigned an average rating of "Reduce" from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $6.63.

SSRM has been the subject of a number of research reports. National Bank Financial reaffirmed a "sector perform overweight" rating on shares of SSR Mining in a report on Wednesday, January 3rd. CIBC lowered shares of SSR Mining from a "sector outperform" rating to a "neutral" rating and dropped their target price for the stock from $18.50 to $6.00 in a report on Wednesday, February 14th. TD Securities lowered shares of SSR Mining from a "buy" rating to a "hold" rating in a report on Wednesday, February 14th. Desjardins lowered shares of SSR Mining from a "buy" rating to a "hold" rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and set a $3.00 target price (down previously from $6.00) on shares of SSR Mining in a report on Tuesday, February 20th.

SSR Mining Price Performance

NASDAQ SSRM traded up $0.13 on Friday, hitting $4.46. The company had a trading volume of 3,990,826 shares, compared to its average volume of 4,409,894. The company has a market capitalization of $900.48 million, a PE ratio of -8.75, a PEG ratio of 2.08 and a beta of 0.81. The company's fifty day moving average price is $6.01 and its 200-day moving average price is $10.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99. SSR Mining has a 12-month low of $3.76 and a 12-month high of $17.72.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.36 by $0.23. The company had revenue of $425.90 million during the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same period in the previous year, the firm posted $0.12 EPS. As a group, analysts predict that SSR Mining will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can lifted its position in SSR Mining by 9.8% in the first quarter. Great West Life Assurance Co. Can now owns 12,841 shares of the basic materials company's stock valued at $297,000 after buying an additional 1,143 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in SSR Mining by 31.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,454,876 shares of the basic materials company's stock worth $31,644,000 after purchasing an additional 349,449 shares during the period. Canada Pension Plan Investment Board purchased a new stake in SSR Mining during the first quarter worth about $413,000. Cetera Investment Advisers purchased a new stake in SSR Mining during the first quarter worth about $202,000. Finally, Moors & Cabot Inc. purchased a new stake in SSR Mining during the first quarter worth about $212,000. Institutional investors and hedge funds 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.