SSR Mining (NASDAQ:SSRM) Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of SSR Mining (NASDAQ:SSRM - Free Report) TSE: SSO from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning.

Other equities analysts also recently issued reports about the company. UBS Group raised their price target on SSR Mining from $12.10 to $12.35 and gave the stock a "buy" rating in a research note on Friday, April 11th. Cormark upgraded SSR Mining from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. National Bank Financial raised SSR Mining to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada upgraded SSR Mining from an "underperform" rating to a "sector perform" rating and upped their price objective for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. Finally, CIBC upped their price objective on SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.03.

SSR Mining Stock Down 0.5%

Shares of SSR Mining stock traded down $0.06 on Thursday, reaching $11.47. The company's stock had a trading volume of 1,676,223 shares, compared to its average volume of 2,606,191. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -8.89, a P/E/G ratio of 0.37 and a beta of -0.15. The firm's fifty day simple moving average is $10.56 and its two-hundred day simple moving average is $8.84. SSR Mining has a 52 week low of $4.32 and a 52 week high of $11.72. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.21. The firm had revenue of $303.43 million for the quarter, compared to the consensus estimate of $332.64 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. Equities analysts anticipate that SSR Mining will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC bought a new position in SSR Mining in the first quarter worth approximately $206,000. Bayforest Capital Ltd bought a new position in SSR Mining in the first quarter worth approximately $147,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in SSR Mining by 96.6% in the first 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 worth $4,113,000 after purchasing an additional 201,525 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in SSR Mining by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,482,100 shares of the basic materials company's stock worth $24,895,000 after purchasing an additional 529,035 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in SSR Mining in the first quarter worth approximately $540,000. Institutional investors own 68.30% of the company's stock.

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.