SSR Mining (NASDAQ:SSRM) Price Target Raised to $5.75

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its target price upped by CIBC from $5.50 to $5.75 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the company. National Bank Financial restated a sector perform spec overwgt rating on shares of SSR Mining in a research note on Monday, April 8th. StockNews.com raised SSR Mining from a sell rating to a hold rating in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $6.56.

SSR Mining Stock Performance

SSRM stock opened at $5.11 on Wednesday. The business has a 50 day moving average price of $5.02 and a 200 day moving average price of $6.11. 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.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.13. The firm 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%. As a group, research analysts predict that SSR Mining will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Creekmur Asset Management LLC acquired a new position in shares of SSR Mining in the fourth quarter valued at approximately $40,000. CWM LLC increased its holdings in shares of SSR Mining by 178.5% in the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 3,926 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of SSR Mining by 10.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,750 shares of the basic materials company’s stock valued at $504,000 after purchasing an additional 4,502 shares during the period. Penn Capital Management Company LLC increased its holdings in shares of SSR Mining by 12.3% in the fourth quarter. Penn Capital Management Company LLC now owns 51,602 shares of the basic materials company’s stock valued at $555,000 after purchasing an additional 5,639 shares during the period. Finally, Oak Thistle LLC increased its holdings in shares of SSR Mining by 20.0% in the first quarter. Oak Thistle LLC now owns 40,083 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 6,680 shares during the period. 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.