SSR Mining Inc. (NASDAQ:SSRM) Receives Average Recommendation of "Hold" from Brokerages

Shares of SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have received a consensus rating of "Hold" from the five research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $10.03.

Several analysts have issued reports on the company. National Bank Financial upgraded SSR Mining to a "hold" rating in a research note on Friday, March 21st. Royal Bank of Canada raised shares of SSR Mining from an "underperform" rating to a "sector perform" rating and boosted their price target for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. CIBC upped their price target on shares of SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. National Bankshares reiterated a "sector perform" rating on shares of SSR Mining in a research note on Wednesday. Finally, StockNews.com raised SSR Mining from a "sell" rating to a "hold" rating in a report on Friday, January 17th.

Institutional Investors Weigh In On SSR Mining

Several large investors have recently added to or reduced their stakes in SSRM. US Bancorp DE boosted its position in shares of SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in SSR Mining in the 4th quarter worth approximately $29,000. Allianz SE bought a new position in shares of SSR Mining in the 4th quarter worth $30,000. Lincoln Capital LLC purchased a new stake in shares of SSR Mining during the 4th quarter valued at $70,000. Finally, HighTower Advisors LLC lifted its holdings in shares of SSR Mining by 24.8% during the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company's stock worth $75,000 after acquiring an additional 2,619 shares during the last quarter. Institutional investors own 68.30% of the company's stock.

SSR Mining Stock Performance

Shares of SSRM traded up $0.27 on Wednesday, reaching $10.52. 1,473,827 shares of the company's stock traded hands, compared to its average volume of 2,694,101. The stock's 50 day simple moving average is $10.34 and its two-hundred day simple moving average is $8.14. The stock has a market cap of $2.13 billion, a PE ratio of -8.15, a PEG ratio of 0.37 and a beta of 0.30. SSR Mining has a 52-week low of $4.32 and a 52-week high of $11.48. 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 - Get Free Report) TSE: SSO last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $323.19 million for the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. On average, analysts forecast 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.