UBS Group Boosts SSR Mining (NASDAQ:SSRM) Price Target to $12.35

SSR Mining (NASDAQ:SSRM - Free Report) TSE: SSO had its price target hoisted by UBS Group from $12.10 to $12.35 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the basic materials company's stock.

A number of other research analysts have also weighed in on SSRM. National Bank Financial raised SSR Mining to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada raised shares of SSR Mining from an "underperform" rating to a "sector perform" rating and boosted their price objective for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. CIBC increased their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, StockNews.com raised shares of SSR Mining from a "sell" rating to a "hold" rating in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $10.03.

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SSR Mining Stock Performance

SSRM stock traded down $0.06 during midday trading on Friday, hitting $10.81. The company's stock had a trading volume of 1,544,419 shares, compared to its average volume of 2,743,966. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -8.38, a PEG ratio of 0.37 and a beta of 0.30. SSR Mining has a 1 year low of $4.32 and a 1 year high of $11.48. 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 stock's 50-day moving average price is $10.09 and its 200 day moving average price is $7.83.

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 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.08). The company had revenue of $323.19 million during 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%. On average, equities analysts forecast that SSR Mining will post 0.73 EPS for the current year.

Institutional Trading of SSR Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of SSR Mining by 21.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company's stock worth $70,265,000 after purchasing an additional 1,802,821 shares during the period. Federated Hermes Inc. lifted its holdings in SSR Mining by 53.9% in the fourth quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock worth $25,551,000 after buying an additional 1,285,347 shares during the period. Cibc World Market Inc. boosted its position in SSR Mining by 22.1% during the 4th quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company's stock valued at $25,967,000 after acquiring an additional 674,793 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of SSR Mining by 14.7% during the 4th quarter. Tidal Investments LLC now owns 3,174,367 shares of the basic materials company's stock worth $22,094,000 after acquiring an additional 407,920 shares during the period. Finally, Voloridge Investment Management LLC raised its position in shares of SSR Mining by 22.2% in the 4th quarter. Voloridge Investment Management LLC now owns 2,203,900 shares of the basic materials company's stock worth $15,339,000 after acquiring an additional 399,806 shares in the last quarter. Hedge funds and other institutional investors 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.