BidaskClub Upgrades SSR Mining (NASDAQ:SSRM) to Buy

BidaskClub upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a buy rating in a report published on Monday morning, BidAskClub reports.

Several other brokerages have also recently issued reports on SSRM. Scotiabank reissued a buy rating on shares of Canadian Natural Resources in a research report on Tuesday, April 2nd. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Citigroup reaffirmed a buy rating and issued a $25.00 target price on shares of Propetro in a report on Tuesday, July 2nd. Finally, Zacks Investment Research cut shares of German American Bancorp. from a buy rating to a hold rating in a report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $15.74.

Shares of SSRM opened at $14.87 on Monday. The firm has a market capitalization of $1.80 billion, a PE ratio of 64.65 and a beta of -0.36. SSR Mining has a 1 year low of $8.11 and a 1 year high of $15.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.36 and a quick ratio of 3.04. The stock’s 50-day simple moving average is $12.93.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.06. The business had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $127.70 million. SSR Mining had a net margin of 3.43% and a return on equity of 4.38%. The business’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, equities research analysts forecast that SSR Mining will post 0.46 EPS for the current year.

Large investors have recently modified their holdings of the stock. American Century Companies Inc. increased its stake in SSR Mining by 0.6% in the fourth quarter. American Century Companies Inc. now owns 199,700 shares of the basic materials company’s stock valued at $2,414,000 after purchasing an additional 1,100 shares during the last quarter. PCJ Investment Counsel Ltd. increased its stake in SSR Mining by 2.3% in the first quarter. PCJ Investment Counsel Ltd. now owns 118,030 shares of the basic materials company’s stock valued at $1,492,000 after purchasing an additional 2,660 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in SSR Mining by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 57,690 shares of the basic materials company’s stock valued at $726,000 after purchasing an additional 3,735 shares during the last quarter. Advisory Services Network LLC increased its stake in SSR Mining by 40.5% in the first quarter. Advisory Services Network LLC now owns 19,801 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 5,705 shares during the last quarter. Finally, FIL Ltd purchased a new position in SSR Mining in the first quarter valued at approximately $123,000. 55.36% of the stock is currently owned by hedge funds and other institutional investors.

SSR Mining Company Profile

SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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Analyst Recommendations for SSR Mining (NASDAQ:SSRM)

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