SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $11.57 and last traded at $11.43, with a volume of 1024422 shares. The stock had previously closed at $10.92.
The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.21. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The company had revenue of $303.43 million for the quarter, compared to the consensus estimate of $332.64 million.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on SSRM shares. UBS Group upped 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. Royal Bank of Canada raised SSR Mining from an "underperform" rating to a "sector perform" rating and upped their target price for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. National Bank Financial raised SSR Mining to a "hold" rating in a report on Friday, March 21st. CIBC upped their price objective on SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, StockNews.com upgraded SSR Mining from a "sell" rating to a "hold" rating in a research note on Friday, January 17th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $10.03.
View Our Latest Stock Report on SSRM
Institutional Investors Weigh In On SSR Mining
Institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of SSR Mining by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock worth $25,000 after buying an additional 1,360 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of SSR Mining during the fourth quarter valued at about $29,000. Allianz SE bought a new stake in shares of SSR Mining in the fourth quarter worth about $30,000. Lincoln Capital LLC bought a new stake in shares of SSR Mining in the fourth quarter worth about $70,000. Finally, Simplicity Wealth LLC bought a new stake in shares of SSR Mining in the first quarter worth about $109,000. Hedge funds and other institutional investors own 68.30% of the company's stock.
SSR Mining Stock Down 8.8%
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 market capitalization of $2.14 billion, a P/E ratio of -8.19, a PEG ratio of 0.37 and a beta of -0.15. The company has a 50 day moving average of $10.44 and a 200-day moving average of $8.46.
About SSR Mining
(
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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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