SSR Mining (NASDAQ:SSRM) Stock Price Up 7.1% - Should You Buy?

Shares of SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO traded up 7.1% during trading on Monday . The company traded as high as $12.75 and last traded at $12.67. 838,773 shares changed hands during trading, a decline of 68% from the average session volume of 2,590,352 shares. The stock had previously closed at $11.83.

Analysts Set New Price Targets

Several brokerages have 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. Cormark upgraded shares of SSR Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. National Bank Financial raised SSR Mining to a "hold" rating in a research note on Friday, March 21st. CIBC lifted their price objective on SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Wall Street Zen raised shares of SSR Mining from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, SSR Mining has a consensus rating of "Moderate Buy" and an average price target of $10.03.

SSR Mining Price Performance

The firm has a market capitalization of $2.58 billion, a PE ratio of -9.88, a P/E/G ratio of 0.37 and a beta of -0.13. 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 moving average price of $10.77 and a 200-day moving average price of $9.16.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. US Bancorp DE raised its stake in SSR Mining by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after buying an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of SSR Mining during the fourth quarter valued at about $29,000. Allianz SE purchased a new position in shares of SSR Mining in the 4th quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of SSR Mining in the 1st quarter valued at approximately $32,000. Finally, Tacita Capital Inc acquired a new stake in SSR Mining in the 1st quarter worth approximately $48,000. 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.