SSR Mining Inc. (NASDAQ:SSRM) Receives $6.85 Consensus PT from Brokerages

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have received an average rating of “Hold” from the four ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.93.

A number of analysts have recently issued reports on SSRM shares. CIBC raised their price target on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, UBS Group upped their price target on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research report on Tuesday.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSRM. JPMorgan Chase & Co. boosted its stake in SSR Mining by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock valued at $8,794,000 after buying an additional 220,349 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of SSR Mining by 16.2% during the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after acquiring an additional 462,000 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of SSR Mining by 649.6% during the 3rd quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock valued at $847,000 after acquiring an additional 127,401 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of SSR Mining by 177.5% in the third quarter. Verition Fund Management LLC now owns 105,763 shares of the basic materials company’s stock valued at $601,000 after purchasing an additional 67,657 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of SSR Mining by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company’s stock valued at $7,542,000 after purchasing an additional 75,563 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Stock Performance

Shares of SSRM opened at $10.52 on Monday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -4.40 and a beta of 0.62. The business’s fifty day simple moving average is $7.84 and its two-hundred day simple moving average is $6.44. SSR Mining has a 12 month low of $3.90 and a 12 month high of $10.63. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a negative net margin of 44.13% and a positive return on equity of 4.05%. The business had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. Research analysts anticipate that SSR Mining will post 0.32 earnings per share for the current fiscal year.

About SSR Mining

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.