SSR Mining (NASDAQ:SSRM) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a sell rating to a hold rating in a research note issued to investors on Friday.

Several other analysts have also recently issued reports on the company. Scotiabank cut SSR Mining from a sector outperform rating to a sector perform rating in a research note on Wednesday, February 14th. TheStreet cut shares of SSR Mining from a c rating to a d rating in a research report on Wednesday, February 28th. TD Securities downgraded SSR Mining from a buy rating to a hold rating in a research note on Wednesday, February 14th. CIBC downgraded shares of SSR Mining from a sector outperform rating to a neutral rating and lowered their target price for the stock from $18.50 to $6.00 in a research note on Wednesday, February 14th. Finally, UBS Group downgraded SSR Mining from a buy rating to a neutral rating and decreased their target price for the stock from $17.00 to $5.00 in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, SSR Mining presently has an average rating of Hold and an average target price of $6.63.

SSR Mining Trading Up 1.8 %

Shares of NASDAQ:SSRM traded up $0.09 during trading hours on Friday, hitting $5.43. 2,370,865 shares of the company’s stock traded hands, compared to its average volume of 3,325,277. The business has a fifty day moving average price of $5.06 and a 200-day moving average price of $7.70. SSR Mining has a 1 year low of $3.76 and a 1 year high of $15.46. The company has a quick ratio of 1.75, a current ratio of 3.07 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results 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. SSR Mining had a negative net margin of 30.90% and a positive return on equity of 6.37%. The firm had revenue of $425.90 million during the quarter. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Equities research analysts anticipate that SSR Mining will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

A number of large investors have recently modified their holdings of the business. CWM LLC grew its stake in SSR Mining by 178.5% during the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 3,926 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in shares of SSR Mining during the fourth quarter valued at $40,000. Simplicity Wealth LLC bought a new position in shares of SSR Mining in the first quarter valued at about $72,000. Bleakley Financial Group LLC acquired a new position in SSR Mining in the first quarter valued at approximately $72,000. Finally, Wedmont Private Capital purchased a new stake in shares of SSR Mining in the 1st quarter valued at about $81,000. Institutional investors and hedge funds 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.