SSR Mining (NASDAQ:SSRM) Shares Up 3.3% – What’s Next?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) rose 3.3% on Tuesday . The stock traded as high as $11.32 and last traded at $11.16. Approximately 242,126 shares changed hands during trading, a decline of 91% from the average daily volume of 2,699,237 shares. The stock had previously closed at $10.81.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SSRM shares. CIBC boosted their price objective on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. National Bank Financial raised SSR Mining to a “hold” rating in a research note on Friday. UBS Group raised their price objective on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. Finally, StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, SSR Mining has a consensus rating of “Hold” and a consensus target price of $9.93.

SSR Mining Stock Performance

The company has a 50-day moving average of $9.32 and a 200-day moving average of $7.32. The company has a market cap of $2.24 billion, a PE ratio of -8.61, a PEG ratio of 0.37 and a beta of 0.53. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. As a group, analysts anticipate that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On SSR Mining

A number of institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in shares of SSR Mining by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock worth $25,000 after buying an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in SSR Mining in the fourth quarter worth $29,000. Allianz SE bought a new position in SSR Mining in the 4th quarter valued at $30,000. Point72 DIFC Ltd purchased a new stake in shares of SSR Mining during the 3rd quarter valued at $47,000. Finally, Lincoln Capital LLC bought a new stake in shares of SSR Mining during the 4th quarter worth $70,000. 68.30% of the stock is owned by institutional investors.

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.