SSR Mining (TSE:SSRM) Sets New 52-Week High - Here's Why

Key Points

• SSR Mining Inc. shares reached a new 52-week high, trading at C$23.30, with a closing price of C$22.89 on Monday.
• Analysts have raised their price targets for SSR Mining, with TD Securities and National Bank increasing their targets to C$24.00 and C$24.75, respectively.
• The company has a market capitalization of C$3.30 billion and operates primarily in the extraction of precious metals, including gold and silver.

SSR Mining Inc. (TSE:SSRM - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as C$23.30 and last traded at C$22.89, with a volume of 115274 shares trading hands. The stock had previously closed at C$23.17.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SSRM. TD Securities raised their price objective on shares of SSR Mining from C$20.00 to C$24.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. National Bankshares raised their price objective on shares of SSR Mining from C$20.00 to C$24.75 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$24.38.

SSR Mining Stock Performance

The company has a quick ratio of 3.80, a current ratio of 3.91 and a debt-to-equity ratio of 11.04. The stock has a market cap of C$3.37 billion, a price-to-earnings ratio of -6.95, a price-to-earnings-growth ratio of 5.64 and a beta of 0.94. The company's 50-day simple moving average is C$18.56 and its 200-day simple moving average is C$16.20.

About SSR Mining

SSR Mining Inc is a minerals company focused on mining precious metals in the Americas. More than half of Silver Standard's revenue is attributable to the production of gold, with a significant portion derived from silver production. The company owns and operates the Marigold mine in Nevada, United States; the Seabee Gold Operation in Saskatchewan, Canada; and the Pirquitas mine in Argentina.