SSR Mining (NASDAQ:SSRM) Stock Price Expected to Rise, CIBC Analyst Says

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO had its price target hoisted by investment analysts at CIBC from $8.25 to $9.75 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the basic materials company's stock. CIBC's price target points to a potential downside of 4.69% from the stock's previous close.

Other analysts have also issued research reports about the company. UBS Group upped their price objective on SSR Mining from $7.15 to $12.05 and gave the stock a "buy" rating in a research report on Tuesday. StockNews.com raised SSR Mining from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada raised SSR Mining from an "underperform" rating to a "sector perform" rating and upped their price objective for the stock from $5.50 to $8.00 in a research 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 company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $9.93.

SSR Mining Trading Down 2.6 %

NASDAQ:SSRM traded down $0.27 during trading hours on Wednesday, reaching $10.23. 3,300,189 shares of the stock were exchanged, compared to its average volume of 2,777,122. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $7.89 and a two-hundred day moving average of $6.47. SSR Mining has a twelve month low of $3.90 and a twelve month high of $10.91. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -7.93 and a beta of 0.62.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last released 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 will post 0.73 EPS for the current year.

Hedge Funds Weigh In On SSR Mining

Large investors have recently bought and sold shares of the business. US Bancorp DE increased its holdings in SSR Mining by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after buying an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in SSR Mining in the fourth quarter valued at $29,000. Allianz SE purchased a new position in SSR Mining in the fourth quarter valued at $30,000. Point72 DIFC Ltd purchased a new position in SSR Mining in the third quarter valued at $47,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in SSR Mining in the third quarter valued at $60,000. Hedge funds and other institutional investors own 68.30% of the company's stock.

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.