SSR Mining (NASDAQ:SSRM) Reaches New 52-Week High - Still a Buy?

Shares of SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO reached a new 52-week high during trading on Friday . The stock traded as high as $11.41 and last traded at $11.37, with a volume of 178607 shares. The stock had previously closed at $11.21.

Analyst Upgrades and Downgrades

Several research firms 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, January 17th. National Bank Financial raised SSR Mining to a "hold" rating in a research note on Friday, March 21st. UBS Group lifted their target price on SSR Mining from $7.15 to $12.05 and gave the company a "buy" rating in a research report on Tuesday, February 18th. CIBC lifted their price objective on SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada upgraded shares of SSR Mining from an "underperform" rating to a "sector perform" rating and increased their target price for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $9.93.

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SSR Mining Stock Down 2.3 %

The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -7.60, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $9.64 and a 200-day moving average of $7.51.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results 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 1.46% and a negative net margin of 26.24%. The firm had revenue of $323.19 million for the quarter, compared to analyst estimates of $262.20 million. On average, equities analysts predict that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of SSR Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in shares of SSR Mining by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company's stock worth $1,686,000 after buying an additional 1,200 shares during the last quarter. Xponance Inc. grew its stake in shares of SSR Mining by 9.3% during the 4th quarter. Xponance Inc. now owns 14,387 shares of the basic materials company's stock worth $100,000 after purchasing an additional 1,222 shares during the period. CIBC Asset Management Inc increased its holdings in shares of SSR Mining by 0.5% during the 4th quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company's stock valued at $1,729,000 after purchasing an additional 1,282 shares in the last quarter. US Bancorp DE lifted its stake in shares of SSR Mining by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 1,360 shares during the period. Finally, HB Wealth Management LLC boosted its holdings in SSR Mining by 11.3% during the fourth quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company's stock worth $100,000 after buying an additional 1,463 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company's stock.

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.