SSR Mining (NASDAQ:SSRM) Raised to Moderate Buy at Cormark

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO was upgraded by equities researchers at Cormark from a "hold" rating to a "moderate buy" rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. UBS Group boosted their target price on shares of SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a research note on Friday, April 11th. Royal Bank of Canada raised SSR Mining from an "underperform" rating to a "sector perform" rating and upped their price target for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. CIBC lifted their price objective on SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. National Bank Financial raised shares of SSR Mining to a "hold" rating in a report on Friday, March 21st. Finally, StockNews.com raised shares of SSR Mining from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, SSR Mining presently has a consensus rating of "Hold" and a consensus price target of $10.03.

SSR Mining Stock Down 1.5 %

SSRM opened at $10.38 on Tuesday. SSR Mining has a fifty-two week low of $4.32 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. The company's 50-day moving average is $10.28 and its 200 day moving average is $8.03. The firm has a market capitalization of $2.10 billion, a P/E ratio of -8.05, a PEG ratio of 0.37 and a beta of 0.30.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last posted its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $323.19 million for the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. Research analysts expect that SSR Mining will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

A number of institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE increased its holdings in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock worth $25,000 after acquiring an additional 1,360 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of SSR Mining in the fourth quarter worth $29,000. Allianz SE bought a new position in shares of SSR Mining in the fourth quarter worth $30,000. Lincoln Capital LLC purchased a new stake in shares of SSR Mining in the fourth quarter worth $70,000. Finally, HighTower Advisors LLC boosted its position in shares of SSR Mining by 24.8% during the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company's stock valued at $75,000 after acquiring an additional 2,619 shares during the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

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.

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