SSR Mining (NASDAQ:SSRM) Sets New 1-Year High - What's Next?

SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO hit a new 52-week high during trading on Tuesday . The stock traded as high as $11.64 and last traded at $11.59, with a volume of 266604 shares traded. The stock had previously closed at $11.52.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SSRM. UBS Group raised their price objective 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 restated a "sector perform" rating on shares of SSR Mining in a research report on Wednesday, April 23rd. National Bank Financial raised shares of SSR Mining to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada raised SSR Mining from an "underperform" rating to a "sector perform" rating and lifted their target price for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. Finally, Cormark upgraded SSR Mining from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.03.

SSR Mining Price Performance

The company has a market capitalization of $2.38 billion, a P/E ratio of -9.10, a P/E/G ratio of 0.37 and a beta of -0.15. The business's fifty day moving average price is $10.58 and its 200 day moving average price is $8.88. 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 announced its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 EPS for the quarter, topping 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 firm had revenue of $303.43 million during the quarter, compared to analysts' expectations of $332.64 million. As a group, equities research analysts predict that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of SSR Mining

Institutional investors have recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in shares of SSR Mining by 62.4% during the fourth 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 period. SBI Securities Co. Ltd. acquired a new stake in shares of SSR Mining during the 4th quarter worth about $29,000. Allianz SE bought a new position in SSR Mining during the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new position in SSR Mining during the 1st quarter valued at about $32,000. Finally, Tacita Capital Inc acquired a new position in SSR Mining in the first quarter valued at about $48,000. Institutional investors and hedge funds 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.