SSR Mining Inc. (NASDAQ:SSRM) Given Average Recommendation of “Reduce” by Brokerages

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned a consensus recommendation of “Reduce” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to 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 issued reports on SSRM. National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th. CIBC upped their price target on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research report on Wednesday. Finally, StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, May 24th.

Institutional Investors Weigh In On SSR Mining

Several hedge funds and other institutional investors have recently made changes to their positions in SSRM. Simplicity Wealth LLC increased its holdings in SSR Mining by 84.2% in the 2nd quarter. Simplicity Wealth LLC now owns 29,771 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 13,611 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in SSR Mining in the 1st quarter worth approximately $41,000. Virtu Financial LLC boosted its stake in SSR Mining by 19.2% in the 1st quarter. Virtu Financial LLC now owns 99,082 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 15,935 shares during the period. Tidal Investments LLC bought a new position in SSR Mining in the 1st quarter worth approximately $6,485,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in SSR Mining by 18.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,324 shares of the basic materials company’s stock worth $207,000 after purchasing an additional 7,277 shares during the period. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Price Performance

SSRM opened at $5.11 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.75 and a current ratio of 3.07. The stock has a market capitalization of $1.03 billion, a P/E ratio of -2.47, a P/E/G ratio of 0.62 and a beta of 0.72. The company’s 50-day simple moving average is $5.02 and its two-hundred day simple moving average is $6.11. SSR Mining has a 52-week low of $3.76 and a 52-week high of $15.27.

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

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.