SSR Mining (NASDAQ:SSRM) Price Target Raised to $6.80

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its price target lifted by UBS Group from $6.30 to $6.80 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Separately, CIBC boosted their price target on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, SSR Mining has an average rating of “Hold” and a consensus price target of $7.01.

SSR Mining Trading Down 1.0 %

Shares of SSR Mining stock opened at $5.82 on Tuesday. SSR Mining has a 1 year low of $3.76 and a 1 year high of $14.52. The company’s fifty day simple moving average is $5.49 and its 200-day simple moving average is $5.23. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -2.46, a PEG ratio of 0.60 and a beta of 0.73. The company has a current ratio of 3.54, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. SSR Mining had a negative net margin of 39.15% and a positive return on equity of 5.01%. The company had revenue of $184.84 million for the quarter. As a group, sell-side analysts expect that SSR Mining will post 0.54 EPS for the current year.

Institutional Investors Weigh In On SSR Mining

A number of institutional investors have recently added to or reduced their stakes in SSRM. B. Riley Wealth Advisors Inc. bought a new position in shares of SSR Mining during the 4th quarter worth approximately $904,000. Quadrature Capital Ltd acquired a new stake in shares of SSR Mining in the 4th quarter valued at $507,000. CWM LLC grew its holdings in shares of SSR Mining by 178.5% in the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 3,926 shares during the last quarter. Alaska Permanent Fund Corp increased its position in shares of SSR Mining by 17.6% during the 1st quarter. Alaska Permanent Fund Corp now owns 1,169,423 shares of the basic materials company’s stock worth $5,216,000 after purchasing an additional 175,212 shares in the last quarter. Finally, Wedmont Private Capital acquired a new stake in shares of SSR Mining during the 1st quarter worth about $81,000. 68.30% of the stock is owned by institutional investors and hedge funds.

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.