CIBC Increases SSR Mining (NASDAQ:SSRM) Price Target to $5.75

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its target price raised by stock analysts at CIBC from $5.50 to $5.75 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. CIBC’s target price points to a potential upside of 18.07% from the stock’s previous close.

Several other brokerages also recently weighed in on SSRM. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, May 24th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.56.

SSR Mining Trading Up 5.9 %

Shares of SSR Mining stock traded up $0.27 during trading hours on Wednesday, hitting $4.87. The company’s stock had a trading volume of 1,875,472 shares, compared to its average volume of 4,350,347. SSR Mining has a twelve month low of $3.76 and a twelve month high of $15.27. The firm has a fifty day moving average of $5.05 and a 200-day moving average of $6.21. The stock has a market cap of $984.23 million, a price-to-earnings ratio of -2.35, a P/E/G ratio of 0.57 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.75 and a current ratio of 3.07.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.13. SSR Mining had a positive return on equity of 6.37% and a negative net margin of 30.90%. The business had revenue of $230.23 million for the quarter. Research analysts forecast that SSR Mining will post 0.46 EPS for the current year.

Institutional Trading of SSR Mining

Large investors have recently made changes to their positions in the company. CWM LLC boosted its position in shares of SSR Mining by 178.5% in the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 3,926 shares during the period. Creekmur Asset Management LLC acquired a new stake in shares of SSR Mining in the 4th quarter valued at about $40,000. Abich Financial Wealth Management LLC acquired a new stake in shares of SSR Mining in the 1st quarter valued at about $41,000. Simplicity Wealth LLC acquired a new stake in shares of SSR Mining in the 1st quarter valued at about $72,000. Finally, Bleakley Financial Group LLC acquired a new stake in shares of SSR Mining in the 1st quarter valued at about $72,000. 68.30% of the stock is owned by institutional investors and hedge funds.

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.