SSR Mining (TSE:SSRM) Upgraded at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded SSR Mining from "market perform" to "outperform" and raised its target to C$41 (from C$27), while TD Securities hiked its target to C$53 and kept a "buy" rating; the stock's consensus rating is "Buy" with an average target of C$47.50.
• Market reaction was negative: SSRM shares fell about 8.3% to C$41.57 on the day, trading 761,980 shares versus an average volume of ~568,100.
• Recent fundamentals: SSR Mining reported quarterly EPS of C$1.20 on C$694.09 million revenue, with a market cap of C$8.45 billion and a P/E of 22.47, and a 52-week range of C$12.30–C$45.70.

SSR Mining (TSE:SSRM - Get Free Report) was upgraded by equities researchers at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a C$41.00 target price on the stock, up from their prior target price of C$27.00. BMO Capital Markets' target price would indicate a potential downside of 1.37% from the company's previous close.

Separately, TD Securities lifted their price target on shares of SSR Mining from C$45.00 to C$53.00 and gave the company a "buy" rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$47.50.

SSR Mining Stock Down 8.3%

SSRM stock traded down C$3.75 during midday trading on Thursday, hitting C$41.57. The stock had a trading volume of 761,980 shares, compared to its average volume of 568,100. The business has a 50-day moving average of C$35.11 and a two-hundred day moving average of C$31.93. 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 firm has a market cap of C$8.45 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 5.64 and a beta of 0.64. SSR Mining has a 52-week low of C$12.30 and a 52-week high of C$45.70.

SSR Mining (TSE:SSRM - Get Free Report) last announced its quarterly earnings data on Saturday, January 31st. The company reported C$1.20 EPS for the quarter. SSR Mining had a return on equity of 12.03% and a net margin of 24.34%.The business had revenue of C$694.09 million during the quarter. As a group, equities research analysts forecast that SSR Mining will post 0.8051668 earnings per share for the current fiscal 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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