SSR Mining (TSE:SSRM) Sets New 12-Month High - What's Next?

Key Points

• Shares of SSR Mining hit a new 52-week high, trading as high as C$49.21 and last at C$47.96 on Wednesday, up roughly 5.5% from the prior close.
• Several analysts upgraded coverage and raised price targets—TD Securities to C$53 (buy), BMO to outperform with C$41, and National Bank Financial to outperform with C$57—leaving a MarketBeat consensus rating of Buy and an average target of C$47.50.
• Fundamentals remain solid: the company reported C$1.21 EPS on C$694.1M revenue, a 24.34% net margin, strong liquidity (quick ratio 3.80), a market cap of C$9.78B and a P/E around 25.8.

Shares of SSR Mining Inc. (TSE:SSRM - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as C$49.21 and last traded at C$47.96, with a volume of 266552 shares traded. The stock had previously closed at C$45.28.

Wall Street Analysts Forecast Growth

SSRM has been the subject of a number of research analyst reports. TD Securities lifted their price objective on shares of SSR Mining from C$45.00 to C$53.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. BMO Capital Markets raised shares of SSR Mining from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from C$27.00 to C$41.00 in a research report on Thursday, March 5th. Finally, National Bank Financial raised shares of SSR Mining from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$43.00 to C$57.00 in a research report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, SSR Mining has an average rating of "Buy" and a consensus price target of C$47.50.

SSR Mining Stock Up 5.5%

The company has a quick ratio of 3.80, a current ratio of 2.08 and a debt-to-equity ratio of 11.76. The company has a market cap of C$9.78 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 5.64 and a beta of 1.12. The stock has a fifty day moving average price of C$38.38 and a two-hundred day moving average price of C$33.93.

SSR Mining (TSE:SSRM - Get Free Report) last posted its earnings results on Saturday, January 31st. The company reported C$1.21 earnings per share for the quarter. SSR Mining had a return on equity of 12.03% and a net margin of 24.34%.The company had revenue of C$694.09 million during the quarter. As a group, sell-side analysts expect that SSR Mining Inc. will post 0.8051668 EPS for the current year.

SSR Mining Company Profile

SSR Mining Inc is an intermediate gold company with assets located in four jurisdictions: the USA, Türkiye, Canada, and Argentina. These assets are located within several of the world's most prolific precious metal districts including the Çöpler mine along the Tethyan belt in Türkiye; the Marigold mine along the Battle Mountain-Eureka trend in Nevada, USA; the CC&V mine in the Cripple Creek Mining District of Colorado, USA; the Seabee mine along the Trans-Hudson Corridor in Saskatchewan, Canada; and the Puna mine along the Bolivian silver belt in Jujuy, Argentina.

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