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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has received an average recommendation of “Reduce” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.89.

A number of equities analysts recently commented on SSRM shares. UBS Group reduced their price objective on SSR Mining from $6.50 to $6.30 and set a “buy” rating on the stock in a research report on Thursday, August 8th. CIBC lifted their price objective on SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, May 24th.

SSR Mining Stock Performance

Shares of SSR Mining stock opened at $5.19 on Monday. SSR Mining has a one year low of $3.76 and a one year high of $15.27. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -2.51, a PEG ratio of 0.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 3.54. The business’s 50 day moving average price is $5.02 and its 200 day moving average price is $4.93.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. The firm had revenue of $184.84 million for the quarter. On average, research analysts predict that SSR Mining will post 0.58 EPS for the current year.

Institutional Investors Weigh In On SSR Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creekmur Asset Management LLC purchased a new stake in SSR Mining in the fourth quarter valued at $40,000. CWM LLC raised its position in SSR Mining by 178.5% in the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 3,926 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of SSR Mining in the 2nd quarter valued at $32,000. Abich Financial Wealth Management LLC purchased a new stake in shares of SSR Mining in the 1st quarter valued at $41,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of SSR Mining in the 4th quarter valued at $111,000. Hedge funds and other 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.