SSR Mining Inc. (NASDAQ:SSRM) Given Consensus Rating of “Reduce” by Analysts

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been given a consensus rating of “Reduce” by the seven ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.56.

A number of analysts have commented on SSRM shares. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. CIBC boosted their price target on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th.

Institutional Trading of SSR Mining

Institutional investors have recently made changes to their positions in the company. American Century Companies Inc. grew its stake in shares of SSR Mining by 321.9% in the 3rd quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock worth $8,599,000 after acquiring an additional 493,695 shares in the last quarter. Alaska Permanent Fund Corp grew its position in SSR Mining by 17.6% during the first quarter. Alaska Permanent Fund Corp now owns 1,169,423 shares of the basic materials company’s stock valued at $5,216,000 after buying an additional 175,212 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in SSR Mining by 5.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock worth $16,003,000 after buying an additional 191,409 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in SSR Mining during the fourth quarter worth about $50,352,000. Finally, GSA Capital Partners LLP increased its holdings in SSR Mining by 185.6% during the first quarter. GSA Capital Partners LLP now owns 351,496 shares of the basic materials company’s stock worth $1,568,000 after buying an additional 228,413 shares during the last quarter. Institutional investors own 68.30% of the company’s stock.

SSR Mining Price Performance

SSR Mining stock opened at $5.11 on Friday. The company has a quick ratio of 1.75, a current ratio of 3.07 and a debt-to-equity ratio of 0.08. SSR Mining has a 12-month low of $3.76 and a 12-month high of $15.27. The firm’s fifty day moving average is $5.02 and its 200 day moving average is $6.11. The company has a market capitalization of $1.03 billion, a PE ratio of -2.47, a PEG ratio of 0.62 and a beta of 0.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter. As a group, sell-side analysts predict that SSR Mining will post 0.46 EPS for the current fiscal 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.