SSR Mining (NASDAQ:SSRM) Shares Up 3.6% – Time to Buy?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s stock price traded up 3.6% on Tuesday . The stock traded as high as $6.60 and last traded at $6.58. 276,938 shares changed hands during trading, a decline of 92% from the average session volume of 3,515,715 shares. The stock had previously closed at $6.35.

Analysts Set New Price Targets

A number of analysts recently weighed in on SSRM shares. CIBC upped their price target on shares of SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. UBS Group upped their target price on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.01.

SSR Mining Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 1.78. The stock has a 50-day moving average price of $5.72 and a 200-day moving average price of $5.32. The firm has a market capitalization of $1.28 billion, a PE ratio of -2.66, a price-to-earnings-growth ratio of 0.91 and a beta of 0.73.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $184.84 million for the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. On average, research analysts expect that SSR Mining Inc. will post 0.38 EPS for the current fiscal year.

Institutional Trading of SSR Mining

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in SSR Mining by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock worth $37,034,000 after acquiring an additional 533,880 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in SSR Mining by 45.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock worth $37,124,000 after purchasing an additional 2,587,212 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in SSR Mining by 5.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock valued at $16,003,000 after buying an additional 191,409 shares during the last quarter. National Bank of Canada FI raised its stake in SSR Mining by 73.7% during the second quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after buying an additional 1,118,417 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in SSR Mining during the 1st quarter worth approximately $6,485,000. 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.