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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned an average rating of “Reduce” from the seven brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.89.

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, May 24th. UBS Group reduced their price objective on shares of SSR Mining from $6.50 to $6.30 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, CIBC upped their price objective on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th.

Hedge Funds Weigh In On SSR Mining

Hedge funds have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new position in SSR Mining during the fourth quarter valued at approximately $40,000. Principal Financial Group Inc. grew its holdings in SSR Mining by 23.3% during the second quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company’s stock valued at $90,000 after purchasing an additional 3,760 shares during the last quarter. CWM LLC grew its holdings in SSR Mining by 178.5% during 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in SSR Mining by 10.7% during 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 last quarter. Finally, Quarry LP grew its holdings in SSR Mining by 119.7% during the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 5,649 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $5.19 on Monday. SSR Mining has a twelve month low of $3.76 and a twelve month high of $15.27. 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 company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.51, a PEG ratio of 0.51 and a beta of 0.71. The firm has a 50-day moving average of $5.02 and a two-hundred day moving average of $4.93.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter. As a group, analysts expect that SSR Mining will post 0.58 earnings per share 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.