Zacks Investment Research upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a sell rating to a hold rating in a research report released on Saturday.
According to Zacks, “SSR Mining Inc. is a mining company. It focused on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, other industrial, technology, pharmaceuticals and solar energy markets. SSR Mining Inc, formerly known as Silver Standard Resources Inc, is based in Vancouver, Canada. “
SSRM has been the topic of a number of other research reports. TheStreet cut SSR Mining from a b- rating to a c rating in a research note on Monday, June 25th. ValuEngine upgraded SSR Mining from a hold rating to a buy rating in a research note on Friday, June 15th. Finally, BidaskClub cut SSR Mining from a buy rating to a hold rating in a research report on Friday, May 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. SSR Mining currently has an average rating of Buy and a consensus price target of $12.50.
SSR Mining traded up $0.18, reaching $10.27, during trading hours on Friday, Marketbeat Ratings reports. 1,176,629 shares of the stock were exchanged, compared to its average volume of 626,601. SSR Mining has a twelve month low of $7.64 and a twelve month high of $11.44. The company has a quick ratio of 7.60, a current ratio of 10.40 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.21 billion, a P/E ratio of 30.21 and a beta of -0.46.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. SSR Mining had a return on equity of 2.50% and a net margin of 4.98%. The firm had revenue of $104.00 million during the quarter, compared to the consensus estimate of $107.90 million. During the same quarter in the prior year, the firm posted $0.11 EPS. The business’s revenue was down 11.1% on a year-over-year basis. analysts anticipate that SSR Mining will post 0.18 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI increased its position in SSR Mining by 281.6% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 66,699 shares of the basic materials company’s stock worth $658,000 after buying an additional 49,220 shares during the period. Investec Asset Management LTD increased its position in SSR Mining by 7.3% during the 2nd quarter. Investec Asset Management LTD now owns 2,508,532 shares of the basic materials company’s stock worth $24,759,000 after buying an additional 169,963 shares during the period. Great West Life Assurance Co. Can increased its position in SSR Mining by 14.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 64,560 shares of the basic materials company’s stock worth $636,000 after buying an additional 8,088 shares during the period. BlackRock Inc. increased its position in SSR Mining by 133.3% during the 2nd quarter. BlackRock Inc. now owns 25,553 shares of the basic materials company’s stock worth $252,000 after buying an additional 14,600 shares during the period. Finally, CIBC Asset Management Inc increased its position in SSR Mining by 14.0% during the 2nd quarter. CIBC Asset Management Inc now owns 569,263 shares of the basic materials company’s stock worth $5,617,000 after buying an additional 69,850 shares during the period. Hedge funds and other institutional investors own 48.32% of the company’s stock.
SSR Mining Company Profile
SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; and the Seabee Gold Operation located in Saskatchewan, Canada.
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