SSR Mining (NASDAQ:SSRM) Hits New 1-Year High - Should You Buy?

SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO's share price reached a new 52-week high on Wednesday . The stock traded as high as $11.29 and last traded at $11.04, with a volume of 2707762 shares traded. The stock had previously closed at $10.99.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of SSR Mining from $7.15 to $12.05 and gave the stock a "buy" rating in a report on Tuesday, February 18th. CIBC upped their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada upgraded shares of SSR Mining from an "underperform" rating to a "sector perform" rating and upped their target price for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of SSR Mining from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, SSR Mining presently has a consensus rating of "Hold" and a consensus target price of $9.93.

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SSR Mining Price Performance

The firm's 50-day moving average is $9.24 and its 200-day moving average is $7.24. The company has a market capitalization of $2.20 billion, a PE ratio of -8.43, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

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

Institutional Trading of SSR Mining

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in SSR Mining by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company's stock valued at $8,794,000 after buying an additional 220,349 shares during the period. Two Sigma Advisers LP boosted its position in SSR Mining by 16.2% during the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company's stock valued at $18,860,000 after buying an additional 462,000 shares during the period. Franklin Resources Inc. boosted its position in SSR Mining by 649.6% during the third quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company's stock valued at $847,000 after buying an additional 127,401 shares during the period. Charles Schwab Investment Management Inc. boosted its position in SSR Mining by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company's stock valued at $7,542,000 after buying an additional 75,563 shares during the period. Finally, Verition Fund Management LLC boosted its position in SSR Mining by 177.5% during the third quarter. Verition Fund Management LLC now owns 105,763 shares of the basic materials company's stock valued at $601,000 after buying an additional 67,657 shares during the period. 68.30% of the stock is currently 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.