SSR Mining (NASDAQ:SSRM) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of SSR Mining (NASDAQ:SSRMFree Report) (TSE:SSO) from a hold rating to a sell rating in a report issued on Thursday.

Several other brokerages have also recently issued reports on SSRM. UBS Group cut SSR Mining from a buy rating to a neutral rating and dropped their target price for the company from $17.00 to $5.00 in a report on Thursday, February 22nd. National Bank Financial restated a sector perform spec overwgt rating on shares of SSR Mining in a report on Monday, April 8th. Desjardins cut SSR Mining from a buy rating to a hold rating in a report on Wednesday, February 28th. TheStreet cut SSR Mining from a c rating to a d rating in a report on Wednesday, February 28th. Finally, Scotiabank cut SSR Mining from a sector outperform rating to a sector perform rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $6.63.

Check Out Our Latest Stock Analysis on SSRM

SSR Mining Stock Up 6.3 %

Shares of SSRM opened at $5.75 on Thursday. The company has a current ratio of 3.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.08. SSR Mining has a one year low of $3.76 and a one year high of $16.09. The stock has a 50 day moving average price of $4.92 and a 200 day moving average price of $7.93.

SSR Mining (NASDAQ:SSRMGet Free Report) (TSE:SSO) last issued its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.37% and a negative net margin of 30.90%. The firm had revenue of $425.90 million during the quarter. During the same quarter in the previous year, the firm posted $0.12 earnings per share. As a group, analysts forecast that SSR Mining will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On SSR Mining

Hedge funds have recently modified their holdings of the business. AustralianSuper Pty Ltd purchased a new position in SSR Mining during the 4th quarter valued at about $50,352,000. Norges Bank purchased a new position in SSR Mining during the 4th quarter valued at about $24,398,000. Tidal Investments LLC purchased a new position in SSR Mining during the 1st quarter valued at about $6,485,000. Van ECK Associates Corp boosted its holdings in SSR Mining by 4.5% during the 1st quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock valued at $95,619,000 after acquiring an additional 929,850 shares during the period. Finally, Quadrature Capital Ltd boosted its holdings in SSR Mining by 1,318.9% during the 1st quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock valued at $2,976,000 after acquiring an additional 621,200 shares during the period. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

About SSR Mining

(Get Free Report)

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.

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