CIBC Raises SSR Mining (NASDAQ:SSRM) Price Target to $9.75

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its price target lifted by CIBC from $8.25 to $9.75 in a research note published on Wednesday,Benzinga reports. CIBC currently has a neutral rating on the basic materials company’s stock.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, UBS Group upped their price target on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.93.

SSR Mining Price Performance

Shares of SSRM stock opened at $10.52 on Wednesday. The firm has a fifty day simple moving average of $7.84 and a 200-day simple moving average of $6.44. The company has a market capitalization of $2.13 billion, a PE ratio of -4.40 and a beta of 0.62. SSR Mining has a twelve month low of $3.90 and a twelve month high of $10.63. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). SSR Mining had a negative net margin of 44.13% and a positive return on equity of 4.05%. The firm had revenue of $323.19 million during the quarter, compared to analysts’ expectations of $262.20 million. Equities research analysts anticipate that SSR Mining will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

Several institutional investors and hedge funds have recently made changes to their positions in SSRM. Vanguard Group Inc. increased its stake in SSR Mining by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company’s stock valued at $72,216,000 after purchasing an additional 71,364 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of SSR Mining by 21.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company’s stock valued at $70,265,000 after buying an additional 1,802,821 shares during the last quarter. Cibc World Market Inc. grew its holdings in shares of SSR Mining by 22.1% during the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after purchasing an additional 674,793 shares during the last quarter. Federated Hermes Inc. raised its position in shares of SSR Mining by 53.9% during the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company’s stock worth $25,551,000 after purchasing an additional 1,285,347 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after purchasing an additional 462,000 shares during the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

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.