SSR Mining (NASDAQ:SSRM) Upgraded by Cormark to Moderate Buy Rating

Cormark upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a moderate buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. UBS Group upped their price objective on SSR Mining from $12.10 to $12.35 and gave the company a “buy” rating in a research report on Friday, April 11th. National Bank Financial raised SSR Mining to a “hold” rating in a research report on Friday, March 21st. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. Finally, CIBC raised their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.03.

SSR Mining Trading Down 1.5 %

Shares of NASDAQ:SSRM opened at $10.38 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. SSR Mining has a 1 year low of $4.32 and a 1 year high of $11.48. The company has a market cap of $2.10 billion, a P/E ratio of -8.05, a PEG ratio of 0.37 and a beta of 0.30. The stock’s fifty day moving average price is $10.28 and its 200-day moving average price is $8.03.

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

Institutional Trading of SSR Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of SSRM. US Bancorp DE grew its stake in shares of 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 acquiring an additional 1,360 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of SSR Mining in the fourth quarter worth approximately $29,000. Allianz SE purchased a new stake in shares of SSR Mining in the fourth quarter worth $30,000. Lincoln Capital LLC bought a new stake in shares of SSR Mining during the 4th quarter valued at $70,000. Finally, HighTower Advisors LLC lifted its stake in shares of SSR Mining by 24.8% during the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after buying an additional 2,619 shares in the last quarter. Hedge funds and other 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.