SSR Mining Inc. (NASDAQ:SSRM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $10.03.

A number of equities analysts recently weighed in on SSRM shares. Cormark raised shares of SSR Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, April 22nd. National Bankshares reaffirmed a “sector perform” rating on shares of SSR Mining in a research note on Wednesday, April 23rd. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $5.50 to $8.00 in a research note on Wednesday, February 5th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, CIBC increased their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th.

SSR Mining Price Performance

Shares of SSRM stock opened at $10.49 on Wednesday. SSR Mining has a 12-month low of $4.32 and a 12-month high of $11.48. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -8.13, a price-to-earnings-growth ratio of 0.37 and a beta of 0.30. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $10.34 and a 200-day moving average of $8.19.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $323.19 million during the quarter, compared to analyst estimates of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. On average, equities research analysts forecast that SSR Mining will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On SSR Mining

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of SSR Mining by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of SSR Mining in the 4th quarter valued at about $29,000. Allianz SE bought a new stake in shares of SSR Mining in the 4th quarter valued at about $30,000. Lincoln Capital LLC bought a new stake in shares of SSR Mining in the 4th quarter valued at about $70,000. Finally, HighTower Advisors LLC raised its holdings in shares of SSR Mining by 24.8% in the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 2,619 shares during the period. 68.30% of the stock is owned by institutional investors.

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.