SSR Mining (NASDAQ:SSRM) Shares Gap Up – Time to Buy?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $9.27, but opened at $9.91. SSR Mining shares last traded at $9.67, with a volume of 506,417 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. UBS Group increased their target price on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. CIBC boosted their target price on SSR Mining from $8.25 to $9.75 and gave the company 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, March 21st. Finally, StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.93.

SSR Mining Trading Up 4.5 %

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 50 day moving average of $9.89 and a 200 day moving average of $7.68. The firm has a market cap of $1.96 billion, a PE ratio of -7.52, a P/E/G ratio of 0.37 and a beta of 0.30.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released 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 company had revenue of $323.19 million for 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%. Equities analysts anticipate that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SSRM. The Manufacturers Life Insurance Company boosted its stake in 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 worth $1,686,000 after buying an additional 1,200 shares in the last quarter. Xponance Inc. grew its stake in shares of SSR Mining by 9.3% in the fourth 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 increased its stake in shares of SSR Mining by 0.5% during the fourth quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock valued at $1,729,000 after buying an additional 1,282 shares during the period. US Bancorp DE increased its position in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares during the period. Finally, HB Wealth Management LLC lifted its position in shares of SSR Mining by 11.3% in the 4th quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 1,463 shares during the period. Institutional investors own 68.30% of the company’s stock.

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.