SSR Mining Inc. (NASDAQ:SSRM) Receives Average Rating of “Reduce” from Analysts

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have received an average rating of “Reduce” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $6.89.

SSRM has been the topic of a number of research analyst reports. CIBC boosted their price objective on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Wednesday, July 10th. UBS Group dropped their price target on SSR Mining from $6.50 to $6.30 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Hedge Funds Weigh In On SSR Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC raised its position in SSR Mining by 178.5% during the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 3,926 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SSR Mining during the 2nd quarter valued at approximately $32,000. Creekmur Asset Management LLC purchased a new position in shares of SSR Mining during the 4th quarter valued at approximately $40,000. Abich Financial Wealth Management LLC purchased a new stake in SSR Mining during the first quarter worth $41,000. Finally, Quarry LP boosted its holdings in SSR Mining by 119.7% during the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after buying an additional 5,649 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Price Performance

Shares of SSRM stock opened at $6.15 on Friday. SSR Mining has a fifty-two week low of $3.76 and a fifty-two week high of $14.52. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 3.54. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -2.97, a PEG ratio of 0.62 and a beta of 0.73. The stock’s 50-day simple moving average is $5.29 and its 200-day simple moving average is $5.06.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. SSR Mining had a negative net margin of 39.15% and a positive return on equity of 5.01%. The company had revenue of $184.84 million during the quarter. As a group, equities analysts forecast that SSR Mining will post 0.51 earnings per share for the current fiscal year.

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.