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

Shares of SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have been given a consensus rating of "Hold" by the five analysts that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $10.03.

SSRM has been the topic of several recent research reports. CIBC upped their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. UBS Group boosted their price target on shares of SSR Mining from $12.10 to $12.35 and gave the stock a "buy" rating in a research note on Friday, April 11th. National Bankshares reiterated a "sector perform" rating on shares of SSR Mining in a research note on Wednesday, April 23rd. Cormark raised SSR Mining from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada upgraded SSR Mining from an "underperform" rating to a "sector perform" rating and upped their price target for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SSRM. Belpointe Asset Management LLC acquired a new position in SSR Mining in the first quarter valued at approximately $206,000. Bayforest Capital Ltd purchased a new stake in shares of SSR Mining during the 1st quarter worth approximately $147,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of SSR Mining by 96.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 410,046 shares of the basic materials company's stock valued at $4,113,000 after buying an additional 201,525 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of SSR Mining by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company's stock valued at $24,895,000 after buying an additional 529,035 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in SSR Mining during the 1st quarter worth $540,000. Hedge funds and other institutional investors own 68.30% of the company's stock.

SSR Mining Trading Up 2.2%

Shares of SSRM traded up $0.25 during midday trading on Friday, hitting $11.41. 839,508 shares of the stock were exchanged, compared to its average volume of 2,603,293. SSR Mining has a 52-week low of $4.32 and a 52-week high of $11.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The stock has a fifty day simple moving average of $10.54 and a 200 day simple moving average of $8.72. The firm has a market cap of $2.31 billion, a P/E ratio of -8.84, a P/E/G ratio of 0.37 and a beta of -0.15.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 EPS for the quarter, beating 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 positive return on equity of 1.46% and a negative net margin of 26.24%. On average, research analysts anticipate that SSR Mining will post 0.73 EPS 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.