SSR Mining Inc. (NASDAQ:SSRM) Receives $6.89 Consensus PT from Brokerages

SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO has been assigned a consensus recommendation of "Reduce" from the seven ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.89.

A number of brokerages have issued reports on SSRM. StockNews.com raised shares of SSR Mining from a "sell" rating to a "hold" rating in a research report on Friday, May 24th. UBS Group decreased their price target 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 lifted their price objective on SSR Mining from $5.50 to $5.75 and gave the company a "neutral" rating in a research report on Wednesday, July 10th.

Institutional Trading of SSR Mining

Several hedge funds and other institutional investors have recently made changes to their positions in SSRM. CWM LLC increased its stake in SSR Mining by 178.5% during the 1st 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in SSR Mining in the 2nd quarter worth approximately $32,000. Creekmur Asset Management LLC bought a new position in SSR Mining in the 4th quarter valued at approximately $40,000. Abich Financial Wealth Management LLC purchased a new stake in SSR Mining during the 1st quarter valued at $41,000. Finally, Quarry LP increased its holdings in shares of SSR Mining by 119.7% in the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company's stock worth $47,000 after purchasing an additional 5,649 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company's stock.

SSR Mining Trading Up 2.9 %

NASDAQ:SSRM traded up $0.17 during mid-day trading on Friday, reaching $6.00. 3,256,842 shares of the company's stock traded hands, compared to its average volume of 3,780,597. The company has a 50 day moving average price of $5.25 and a 200-day moving average price of $5.02. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -2.90, a PEG ratio of 0.58 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 1.78. SSR Mining has a 12-month low of $3.76 and a 12-month high of $14.73.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. The firm had revenue of $184.84 million for the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. On average, sell-side analysts predict that SSR Mining will post 0.58 earnings per share for the current year.

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.