SSR Mining (NASDAQ:SSRM) Price Target Raised to $12.05

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its price objective upped by UBS Group from $7.15 to $12.05 in a research note issued to investors on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the basic materials company’s stock.

Several other analysts have also issued reports on SSRM. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, SSR Mining has an average rating of “Hold” and an average price target of $9.93.

SSR Mining Stock Performance

NASDAQ:SSRM opened at $10.50 on Tuesday. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.12 billion, a PE ratio of -8.14 and a beta of 0.62. The firm’s fifty day simple moving average is $7.89 and its 200 day simple moving average is $6.47. SSR Mining has a 1 year low of $3.90 and a 1 year high of $10.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $323.19 million during the quarter, compared to analyst estimates of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. On average, sell-side analysts anticipate that SSR Mining will post 0.73 EPS for the current year.

Hedge Funds Weigh In On SSR Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its holdings in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in SSR Mining during the 4th quarter valued at about $29,000. Allianz SE bought a new position in SSR Mining during the 4th quarter valued at about $30,000. Point72 DIFC Ltd bought a new position in SSR Mining during the 3rd quarter valued at about $47,000. Finally, Lincoln Capital LLC bought a new position in SSR Mining during the 4th quarter valued at about $70,000. 68.30% of the stock is owned by institutional investors.

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.