Brokerages Set SSR Mining Inc. (NASDAQ:SSRM) Price Target at $6.63

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have been given an average rating of “Reduce” by the seven analysts that are presently 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 objective among analysts that have issued a report on the stock in the last year is $6.56.

A number of analysts have issued reports on SSRM shares. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Finally, CIBC upped their price objective on SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a research report on Wednesday.

SSR Mining Stock Performance

NASDAQ:SSRM opened at $5.11 on Friday. SSR Mining has a fifty-two week low of $3.76 and a fifty-two week high of $15.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.75 and a current ratio of 3.07. The company has a 50 day moving average price of $5.02 and a 200 day moving average price of $6.15. The stock has a market capitalization of $1.03 billion, a P/E ratio of -2.47, a PEG ratio of 0.57 and a beta of 0.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.13. The business had revenue of $230.23 million during the quarter. SSR Mining had a positive return on equity of 6.37% and a negative net margin of 30.90%. Equities research analysts forecast that SSR Mining will post 0.46 EPS for the current year.

Institutional Trading of SSR Mining

A number of institutional investors have recently bought and sold shares of SSRM. AustralianSuper Pty Ltd acquired a new stake in SSR Mining during the 4th quarter worth $50,352,000. Norges Bank purchased a new stake in shares of SSR Mining in the 4th quarter valued at about $24,398,000. Tidal Investments LLC acquired a new stake in shares of SSR Mining in the 1st quarter valued at about $6,485,000. Van ECK Associates Corp grew its stake in SSR Mining by 4.5% during the 1st quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock worth $95,619,000 after buying an additional 929,850 shares during the last quarter. Finally, Quadrature Capital Ltd increased its position in SSR Mining by 1,318.9% during the first quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock worth $2,976,000 after buying an additional 621,200 shares during the period. 68.30% of the stock is owned by hedge funds and other 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.