SSR Mining (NASDAQ:SSRM) Sets New 1-Year High After Analyst Upgrade

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) reached a new 52-week high on Wednesday after UBS Group raised their price target on the stock from $7.15 to $12.05. UBS Group currently has a buy rating on the stock. SSR Mining traded as high as $9.80 and last traded at $9.97, with a volume of 654128 shares traded. The stock had previously closed at $9.33.

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.60.

Institutional Trading of SSR Mining

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of SSR Mining by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company’s stock worth $72,216,000 after acquiring an additional 71,364 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SSR Mining by 21.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company’s stock valued at $70,265,000 after purchasing an additional 1,802,821 shares in the last quarter. Cibc World Market Inc. increased its position in shares of SSR Mining by 22.1% during 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 period. Federated Hermes Inc. lifted its holdings in SSR Mining by 53.9% in the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company’s stock valued at $25,551,000 after acquiring an additional 1,285,347 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in SSR Mining by 16.2% during the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after purchasing an additional 462,000 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Trading Up 6.9 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The firm has a market capitalization of $2.02 billion, a P/E ratio of -4.17 and a beta of 0.62. The firm has a 50 day moving average price of $7.75 and a two-hundred day moving average price of $6.38.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). SSR Mining had a positive return on equity of 4.05% and a negative net margin of 44.13%. The firm had revenue of $323.19 million during the quarter, compared to analyst estimates of $262.20 million. On average, equities research analysts expect that SSR Mining Inc. will post 0.32 EPS 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.