Brokerages Set SSR Mining Inc. (NASDAQ:SSRM) Target Price at $6.89

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have earned an average rating of “Reduce” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $6.89.

Several equities analysts have weighed in on SSRM shares. CIBC increased their target price on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. UBS Group lowered their price target on SSR Mining from $6.50 to $6.30 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, May 24th.

SSR Mining Stock Performance

NASDAQ:SSRM opened at $5.19 on Monday. SSR Mining has a 1-year low of $3.76 and a 1-year high of $15.27. The business’s 50-day moving average price is $5.02 and its two-hundred day moving average price is $4.93. The company has a current ratio of 3.54, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.51, a PEG ratio of 0.54 and a beta of 0.71.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. The firm had revenue of $184.84 million for the quarter. On average, equities analysts expect that SSR Mining will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Alaska Permanent Fund Corp grew its stake in SSR Mining by 17.6% in the first quarter. Alaska Permanent Fund Corp now owns 1,169,423 shares of the basic materials company’s stock valued at $5,216,000 after purchasing an additional 175,212 shares in the last quarter. Quadrature Capital Ltd grew its stake in SSR Mining by 1,318.9% in the first quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock valued at $2,976,000 after purchasing an additional 621,200 shares in the last quarter. Duality Advisers LP grew its stake in SSR Mining by 239.1% in the first quarter. Duality Advisers LP now owns 264,975 shares of the basic materials company’s stock valued at $1,182,000 after purchasing an additional 186,829 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in SSR Mining by 5.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock valued at $16,003,000 after purchasing an additional 191,409 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in SSR Mining by 185.6% in the first quarter. GSA Capital Partners LLP now owns 351,496 shares of the basic materials company’s stock valued at $1,568,000 after purchasing an additional 228,413 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors.

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.