SSR Mining Inc. (NASDAQ:SSRM) Receives Consensus Rating of “Reduce” from Brokerages

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have been given an average recommendation of “Reduce” by the seven brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.56.

Several research firms have weighed in on SSRM. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Finally, CIBC raised their price objective on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday.

SSR Mining Stock Up 4.9 %

Shares of NASDAQ:SSRM opened at $5.11 on Friday. SSR Mining has a 1 year low of $3.76 and a 1 year high of $15.27. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.07 and a quick ratio of 1.75. The business’s 50-day moving average is $5.02 and its 200-day moving average is $6.15. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -2.47, a P/E/G ratio of 0.57 and a beta of 0.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.13. SSR Mining had a negative net margin of 30.90% and a positive return on equity of 6.37%. The company had revenue of $230.23 million during the quarter. Equities research analysts predict that SSR Mining will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On SSR Mining

Large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC purchased a new stake in shares of SSR Mining in the third quarter worth approximately $259,000. Trexquant Investment LP purchased a new position in shares of SSR Mining during the third quarter valued at approximately $353,000. The Manufacturers Life Insurance Company grew its holdings in SSR Mining by 12.6% during the third quarter. The Manufacturers Life Insurance Company now owns 1,495,745 shares of the basic materials company’s stock worth $20,008,000 after buying an additional 166,940 shares in the last quarter. Sprott Inc. raised its position in SSR Mining by 5.3% in the 3rd quarter. Sprott Inc. now owns 1,931,270 shares of the basic materials company’s stock valued at $25,667,000 after buying an additional 97,937 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in SSR Mining by 321.9% during the 3rd quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock valued at $8,599,000 after acquiring an additional 493,695 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.

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.