SSR Mining (NASDAQ:SSRM) Hits New 12-Month High – Should You Buy?

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) hit a new 52-week high during trading on Friday . The company traded as high as $11.41 and last traded at $11.37, with a volume of 178607 shares traded. The stock had previously closed at $11.21.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SSRM shares. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. National Bank Financial raised shares of SSR Mining to a “hold” rating in a report on Friday, March 21st. CIBC upped their target price on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. UBS Group raised their price target on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. Four equities 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, SSR Mining currently has a consensus rating of “Hold” and a consensus price target of $9.93.

SSR Mining Stock Down 1.0 %

The company has a market capitalization of $2.25 billion, a P/E ratio of -8.57, a P/E/G 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. The firm has a fifty day simple moving average of $9.53 and a 200-day simple moving average of $7.41.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The company had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. On average, equities research analysts expect that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On SSR Mining

A number of large investors have recently modified their holdings of SSRM. The Manufacturers Life Insurance Company increased its position in shares of SSR Mining by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company’s stock valued at $1,686,000 after acquiring an additional 1,200 shares during the last quarter. Xponance Inc. increased its position in shares of SSR Mining by 9.3% during the 4th quarter. Xponance Inc. now owns 14,387 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 1,222 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of SSR Mining by 0.5% during the 4th quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock worth $1,729,000 after purchasing an additional 1,282 shares in the last quarter. US Bancorp DE boosted its holdings 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 valued at $25,000 after buying an additional 1,360 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of SSR Mining by 11.3% in the fourth quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock valued at $100,000 after buying an additional 1,463 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

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.