SSR Mining (TSE:SSRM) Trading Up 19.9% - Still a Buy?

Key Points

• 19.9% intraday jump — SSR Mining rose to C$46.13 (high C$46.49) on Wednesday with ~256,401 shares traded, roughly half its average daily volume.
• Analyst upgrades lifted sentiment: BMO, National Bank and TD Securities raised ratings/targets on March 5, and the stock carries a consensus Buy rating with a consensus price target of C$47.50 (individual targets C$41–C$57).
• Recent results and metrics show solid profitability — C$1.60 EPS on C$581.8M revenue, ROE 12.03% and net margin 24.34% — with a market cap of C$9.11B and a P/E of 24.05.

SSR Mining Inc. (TSE:SSRM - Get Free Report) was up 19.9% during trading on Wednesday . The stock traded as high as C$46.49 and last traded at C$46.13. Approximately 256,401 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 509,315 shares. The stock had previously closed at C$38.47.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SSRM shares. BMO Capital Markets raised SSR Mining from a "market perform" rating to an "outperform" rating and lifted their target price for the company from C$27.00 to C$41.00 in a research note on Thursday, March 5th. National Bank Financial raised SSR Mining from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from C$43.00 to C$57.00 in a research note on Thursday, March 5th. Finally, TD Securities lifted their target price on SSR Mining from C$45.00 to C$53.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$47.50.

SSR Mining Price Performance

The company has a 50 day moving average price of C$40.89 and a 200 day moving average price of C$35.16. The company has a market capitalization of C$9.11 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 5.64 and a beta of 1.18. The company has a current ratio of 2.08, a quick ratio of 3.80 and a debt-to-equity ratio of 11.76.

SSR Mining (TSE:SSRM - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported C$1.60 EPS for the quarter. The company had revenue of C$581.78 million during the quarter. SSR Mining had a return on equity of 12.03% and a net margin of 24.34%. As a group, equities research analysts forecast that SSR Mining Inc. will post 0.8051668 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.