SSR Mining (NASDAQ:SSRM) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.

Other equities research analysts have also issued research reports about the stock. National Bankshares reissued a “sector perform” rating on shares of SSR Mining in a report on Wednesday, April 23rd. Cormark raised shares of SSR Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, April 22nd. National Bank Financial raised shares of SSR Mining to a “hold” rating in a report on Friday, March 21st. Royal Bank of Canada raised 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 report on Wednesday, February 5th. 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 report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, SSR Mining currently has an average rating of “Moderate Buy” and an average target price of $10.03.

SSR Mining Stock Up 3.2%

SSRM opened at $11.52 on Thursday. The firm’s 50-day simple moving average is $10.55 and its 200-day simple moving average is $8.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. SSR Mining has a twelve month low of $4.32 and a twelve month high of $11.61. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -8.93, a PEG ratio of 0.37 and a beta of -0.15.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.21. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The business had revenue of $303.43 million for the quarter, compared to analyst estimates of $332.64 million. Equities research analysts anticipate that SSR Mining will post 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SSRM. Barclays PLC boosted its stake in shares of SSR Mining by 33.8% in the 3rd quarter. Barclays PLC now owns 701,763 shares of the basic materials company’s stock valued at $3,985,000 after purchasing an additional 177,447 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of SSR Mining by 11.3% in the 4th quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 1,463 shares during the last quarter. Cibc World Market Inc. boosted its stake in shares of SSR Mining by 22.1% in the 4th quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after purchasing an additional 674,793 shares during the last quarter. Catalina Capital Group LLC raised its position in shares of SSR Mining by 66.7% in the 4th quarter. Catalina Capital Group LLC now owns 27,143 shares of the basic materials company’s stock valued at $189,000 after acquiring an additional 10,856 shares during the period. Finally, Bleakley Financial Group LLC raised its position in shares of SSR Mining by 24.8% in the 4th quarter. Bleakley Financial Group LLC now owns 25,461 shares of the basic materials company’s stock valued at $178,000 after acquiring an additional 5,066 shares during the period. Institutional investors own 68.30% of the company’s stock.

SSR Mining Company Profile

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.