Brokerages Set SSR Mining Inc. (NASDAQ:SSRM) Price Target at $6.63

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has received an average recommendation of “Reduce” from the seven brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $6.63.

Several research analysts recently commented on SSRM shares. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday. Scotiabank lowered shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. UBS Group lowered shares of SSR Mining from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $17.00 to $5.00 in a research report on Thursday, February 22nd. Desjardins lowered shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, TD Securities downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of SSR Mining by 6.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 32,911 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 1,970 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of SSR Mining by 13.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,248 shares of the basic materials company’s stock valued at $564,000 after purchasing an additional 5,033 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SSR Mining by 3.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 122,739 shares of the basic materials company’s stock valued at $1,631,000 after purchasing an additional 4,423 shares during the period. Barclays PLC lifted its stake in SSR Mining by 4.7% in the third quarter. Barclays PLC now owns 62,325 shares of the basic materials company’s stock worth $828,000 after acquiring an additional 2,781 shares during the period. Finally, Van ECK Associates Corp lifted its position in SSR Mining by 0.9% during the third quarter. Van ECK Associates Corp now owns 21,178,035 shares of the basic materials company’s stock valued at $281,455,000 after buying an additional 180,685 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Price Performance

NASDAQ SSRM opened at $5.43 on Friday. SSR Mining has a 52 week low of $3.76 and a 52 week high of $15.46. The company has a current ratio of 3.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -2.62, a price-to-earnings-growth ratio of 0.57 and a beta of 0.76. The company has a 50-day moving average price of $5.06 and a two-hundred day moving average price of $7.70.

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