SSR Mining (NASDAQ:SSRM) Shares Up 3.7%

Shares of SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO shot up 3.7% during trading on Friday . The company traded as high as $5.36 and last traded at $5.33. 1,168,139 shares traded hands during trading, a decline of 75% from the average session volume of 4,743,107 shares. The stock had previously closed at $5.14.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SSRM. CIBC cut shares of SSR Mining from a "sector outperform" rating to a "neutral" rating and cut their target price for the stock from $18.50 to $6.00 in a research note on Wednesday, February 14th. TD Securities cut shares of SSR Mining from a "buy" rating to a "hold" rating in a research note on Wednesday, February 14th. UBS Group cut shares of SSR Mining from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $17.00 to $5.00 in a research note on Thursday, February 22nd. Scotiabank cut shares of SSR Mining from a "sector outperform" rating to a "sector perform" rating in a research note on Wednesday, February 14th. Finally, National Bank Financial reaffirmed a "sector perform spec overwgt" rating on shares of SSR Mining in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.63.

SSR Mining Stock Performance

The firm's fifty day moving average price is $4.74 and its 200 day moving average price is $9.12. The company has a current ratio of 7.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -10.47, a price-to-earnings-growth ratio of 1.32 and a beta of 0.82.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings data 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 firm had revenue of $425.90 million for the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same quarter in the prior year, the company posted $0.12 earnings per share. Analysts forecast that SSR Mining Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

A number of hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in shares of SSR Mining by 178.5% in the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 3,926 shares in the last quarter. American International Group Inc. acquired a new stake in shares of SSR Mining in the 2nd quarter valued at $37,000. Creekmur Asset Management LLC purchased a new position in shares of SSR Mining in the 4th quarter valued at $40,000. Wedmont Private Capital purchased a new position in shares of SSR Mining in the 1st quarter valued at $81,000. Finally, International Assets Investment Management LLC purchased a new position in shares of SSR Mining in the 4th quarter valued at $111,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

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.