SSR Mining (NASDAQ:SSRM) Lifted to “Buy” at BidaskClub

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

SSRM has been the topic of several other research reports. B. Riley upgraded SSR Mining from a neutral rating to a buy rating and increased their price objective for the stock from $16.70 to $23.00 in a research report on Wednesday, November 13th. Zacks Investment Research lowered shares of SSR Mining from a strong-buy rating to a hold rating in a research report on Thursday, November 7th. Scotiabank upgraded shares of SSR Mining from a sector perform rating to a sector outperform rating and set a $17.00 price objective for the company in a research note on Tuesday, September 10th. TheStreet raised shares of SSR Mining from a c rating to a b- rating in a report on Monday, August 12th. Finally, Citigroup increased their target price on shares of SSR Mining from $14.00 to $16.00 and gave the stock a neutral rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. SSR Mining has an average rating of Buy and an average target price of $18.63.

SSRM opened at $16.59 on Friday. The business has a 50 day moving average of $14.94 and a 200-day moving average of $14.56. SSR Mining has a 12-month low of $10.59 and a 12-month high of $17.56. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 72.13 and a beta of -0.46. The company has a quick ratio of 2.86, a current ratio of 3.98 and a debt-to-equity ratio of 0.15.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, November 5th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.09. The company had revenue of $147.85 million during the quarter, compared to analysts’ expectations of $195.93 million. SSR Mining had a net margin of 6.13% and a return on equity of 6.38%. SSR Mining’s quarterly revenue was up 28.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. As a group, analysts expect that SSR Mining will post 0.73 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Investec Asset Management LTD boosted its holdings in shares of SSR Mining by 6.0% in the 2nd quarter. Investec Asset Management LTD now owns 5,119,599 shares of the basic materials company’s stock valued at $69,985,000 after purchasing an additional 289,535 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of SSR Mining by 9.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,122,916 shares of the basic materials company’s stock worth $56,539,000 after buying an additional 367,800 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of SSR Mining by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,234,557 shares of the basic materials company’s stock worth $44,216,000 after buying an additional 117,919 shares during the last quarter. Bank of Montreal Can lifted its position in shares of SSR Mining by 92.6% during the 2nd quarter. Bank of Montreal Can now owns 2,577,586 shares of the basic materials company’s stock worth $35,236,000 after buying an additional 1,239,501 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in SSR Mining by 305.3% in the third quarter. Millennium Management LLC now owns 1,410,424 shares of the basic materials company’s stock valued at $20,479,000 after buying an additional 1,062,449 shares in the last quarter. Hedge funds and other institutional investors own 58.93% of the company’s stock.

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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