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

SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO has been assigned a consensus recommendation of "Hold" from the five brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $10.03.

Several equities analysts have recently commented on SSRM shares. 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 Bank Financial upgraded shares of SSR Mining to a "hold" rating in a research report on Friday, March 21st. 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 research report on Friday, April 11th. Finally, CIBC boosted their target price on shares of SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research report on Wednesday, February 19th.

SSR Mining Stock Performance

SSR Mining stock traded up $0.05 during midday trading on Thursday, hitting $12.43. The company's stock had a trading volume of 1,634,751 shares, compared to its average volume of 2,614,651. SSR Mining has a 1-year low of $4.32 and a 1-year high of $13.33. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. The company has a 50-day moving average price of $10.99 and a two-hundred day moving average price of $9.34. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -9.64, a PEG ratio of 0.37 and a beta of -0.13.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 EPS for the quarter, beating the consensus estimate 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%. As a group, sell-side analysts predict that SSR Mining will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On SSR Mining

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

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.