SSR Mining Inc. (NASDAQ:SSRM) Given Consensus Rating of “Reduce” by Brokerages

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have been given a consensus recommendation of “Reduce” by the seven brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.63.

A number of analysts recently commented on the stock. UBS Group cut shares of SSR Mining from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. Desjardins lowered SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. TheStreet cut SSR Mining from a “c” rating to a “d” rating in a research note on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $3.00 price target (down previously from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. Finally, Scotiabank downgraded shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th.

Institutional Trading of SSR Mining

A number of institutional investors have recently made changes to their positions in the business. Creekmur Asset Management LLC bought a new position in SSR Mining in the fourth quarter valued at $40,000. CWM LLC boosted its stake in shares of SSR Mining by 178.5% during the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock worth $27,000 after buying an additional 3,926 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of SSR Mining in the 4th quarter valued at about $111,000. Headlands Technologies LLC acquired a new stake in shares of SSR Mining in the fourth quarter valued at about $120,000. Finally, Private Advisor Group LLC bought a new stake in SSR Mining during the fourth quarter worth about $127,000. Institutional investors own 68.30% of the company’s stock.

SSR Mining Stock Up 1.1 %

Shares of SSRM stock opened at $5.63 on Tuesday. The stock has a 50-day moving average of $4.65 and a 200-day moving average of $8.70. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. SSR Mining has a one year low of $3.76 and a one year high of $17.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. The firm had revenue of $425.90 million during the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same quarter in the prior year, the firm posted $0.12 EPS. Analysts anticipate that SSR Mining will post 0.18 earnings per share for the current fiscal year.

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.