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

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Thursday.

A number of other analysts have also recently commented on the company. National Bank Financial upgraded SSR Mining to a "hold" rating in a research report on Friday, March 21st. UBS Group boosted their price target on SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a research note on Friday, April 11th. Royal Bank of Canada upgraded shares of SSR Mining from an "underperform" rating to a "sector perform" rating and increased their price objective for the stock from $5.50 to $8.00 in a research note on Wednesday, February 5th. CIBC raised their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of SSR Mining in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, SSR Mining has a consensus rating of "Moderate Buy" and an average price target of $10.03.

SSR Mining Stock Down 2.4%

Shares of SSR Mining stock traded down $0.28 during trading on Thursday, hitting $11.15. The company's stock had a trading volume of 812,632 shares, compared to its average volume of 2,607,234. SSR Mining has a 52 week low of $4.32 and a 52 week high of $11.61. The company has a market capitalization of $2.26 billion, a PE ratio of -8.63, a P/E/G ratio of 0.37 and a beta of -0.15. The company has a fifty day simple moving average of $10.54 and a two-hundred day simple moving average of $8.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSRM. Bleakley Financial Group LLC grew its stake in shares of SSR Mining by 3.9% in the 1st quarter. Bleakley Financial Group LLC now owns 26,466 shares of the basic materials company's stock worth $265,000 after buying an additional 1,005 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of SSR Mining by 3.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,794 shares of the basic materials company's stock valued at $289,000 after acquiring an additional 1,089 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of SSR Mining by 0.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company's stock worth $1,686,000 after acquiring an additional 1,200 shares during the last quarter. Xponance Inc. boosted its stake in shares of SSR Mining by 9.3% during the 4th quarter. Xponance Inc. now owns 14,387 shares of the basic materials company's stock worth $100,000 after purchasing an additional 1,222 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of 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 during the period. Hedge funds and other 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.

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