SSR Mining Inc (SSRM) Receives Average Rating of “Buy” from Analysts

Shares of SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) have been assigned a consensus recommendation of “Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $14.75.

A number of equities research analysts have commented on SSRM shares. BidaskClub downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Saturday, December 1st. Scotiabank raised shares of SSR Mining from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 12th. BMO Capital Markets increased their price objective on shares of SSR Mining from $11.75 to $12.50 and gave the company an “outperform” rating in a research report on Friday, October 12th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “buy” rating on shares of SSR Mining in a research report on Sunday, October 21st. Finally, Zacks Investment Research raised shares of SSR Mining from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, October 19th.

Shares of SSRM opened at $12.19 on Friday. SSR Mining has a fifty-two week low of $7.64 and a fifty-two week high of $12.70. The company has a market cap of $1.45 billion, a P/E ratio of 35.85 and a beta of -0.57. The company has a current ratio of 8.91, a quick ratio of 6.29 and a debt-to-equity ratio of 0.24.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Thursday, November 8th. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. SSR Mining had a net margin of 6.12% and a return on equity of 3.14%. The firm had revenue of $115.03 million for the quarter, compared to the consensus estimate of $113.00 million. During the same period in the prior year, the firm earned $0.04 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts forecast that SSR Mining will post 0.24 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc grew its position in shares of SSR Mining by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 2,878,489 shares of the basic materials company’s stock valued at $25,071,000 after buying an additional 109,627 shares during the last quarter. Vanguard Group Inc. boosted its stake in SSR Mining by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,878,489 shares of the basic materials company’s stock worth $25,071,000 after purchasing an additional 109,627 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in SSR Mining by 1.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,382,395 shares of the basic materials company’s stock worth $20,698,000 after purchasing an additional 32,800 shares during the period. Bank of Montreal Can boosted its stake in SSR Mining by 1.3% during the 3rd quarter. Bank of Montreal Can now owns 1,835,412 shares of the basic materials company’s stock worth $15,987,000 after purchasing an additional 23,725 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in SSR Mining during the 3rd quarter worth $15,949,000. 49.02% of the stock is currently owned by hedge funds and other institutional investors.

About SSR Mining

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.

Recommended Story: Short Selling Stocks and Day Traders

Analyst Recommendations for SSR Mining (NASDAQ:SSRM)

Receive News & Ratings for SSR Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SSR Mining and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply