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

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

Wall Street Analysts Forecast Growth

SSRM has been the topic of several recent analyst reports. CIBC boosted their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada upgraded shares of SSR Mining from an "underperform" rating to a "sector perform" rating and boosted their price objective for the stock from $5.50 to $8.00 in a research note on Wednesday, February 5th. Wall Street Zen upgraded shares of SSR Mining from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. National Bank Financial upgraded shares of SSR Mining to a "hold" rating in a research note on Friday, March 21st. Finally, Cormark upgraded shares of 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $10.03.

SSR Mining Stock Down 2.0%

The firm has a market cap of $2.50 billion, a P/E ratio of -9.54, a P/E/G ratio of 0.37 and a beta of -0.15. 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 firm's fifty day moving average is $10.68 and its 200 day moving average is $9.09.

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

Institutional Trading of SSR Mining

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of SSR Mining by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company's stock worth $72,216,000 after buying an additional 71,364 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of SSR Mining by 21.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company's stock worth $70,265,000 after buying an additional 1,802,821 shares during the period. Federated Hermes Inc. boosted its holdings in shares of SSR Mining by 53.9% during the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock worth $25,551,000 after buying an additional 1,285,347 shares during the period. Tidal Investments LLC boosted its holdings in shares of SSR Mining by 14.7% during the 4th quarter. Tidal Investments LLC now owns 3,174,367 shares of the basic materials company's stock worth $22,094,000 after buying an additional 407,920 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of SSR Mining by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,678,940 shares of the basic materials company's stock worth $18,652,000 after buying an additional 38,593 shares during the period. Institutional investors own 68.30% of the company's stock.

SSR Mining Company Profile

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.