SSR Mining (TSE:SSRM) Stock Price Up 9.5% - Still a Buy?

Key Points

• SSR Mining shares jumped 9.5% to C$37.42 on Friday, trading as high as C$37.46 on sharply lower volume (141,377 shares vs. a 552,840 average).
• Multiple analysts upgraded SSRM on March 5 (TD to C$53 "buy", BMO to C$41 "outperform", National Bank to C$57 "outperform"), leaving a consensus "Buy" rating and an average target of C$47.50.
• The company reported quarterly EPS of C$1.21 on C$694.09M revenue with a 24.34% net margin; SSRM has a market cap of C$7.42B, a P/E of ~19.7, and solid liquidity (current ratio 2.08, quick ratio 3.80).

SSR Mining Inc. (TSE:SSRM - Get Free Report)'s share price traded up 9.5% during trading on Friday . The stock traded as high as C$37.46 and last traded at C$37.42. 141,377 shares changed hands during trading, a decline of 74% from the average session volume of 552,840 shares. The stock had previously closed at C$34.16.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SSRM. TD Securities upped their target price on SSR Mining from C$45.00 to C$53.00 and gave the company a "buy" rating in a report on Thursday, March 5th. BMO Capital Markets raised SSR Mining from a "market perform" rating to an "outperform" rating and boosted 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 upgraded SSR Mining from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from C$43.00 to C$57.00 in a research note on Thursday, March 5th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, SSR Mining has an average rating of "Buy" and a consensus target price of C$47.50.

SSR Mining Stock Performance

The company has a debt-to-equity ratio of 11.76, a current ratio of 2.08 and a quick ratio of 3.80. The company has a 50 day simple moving average of C$37.22 and a 200-day simple moving average of C$33.24. The stock has a market capitalization of C$7.42 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

SSR Mining (TSE:SSRM - Get Free Report) last posted its quarterly 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. On average, equities analysts forecast that SSR Mining Inc. will post 0.8051668 EPS for the current year.

About SSR Mining

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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