Analysts Set SSR Mining Inc. (NASDAQ:SSRM) Target Price at $6.89

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been given an average rating of “Reduce” by the seven research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.89.

A number of brokerages have recently commented on SSRM. CIBC raised their price target on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Wednesday, July 10th. UBS Group lowered their target price on shares of SSR Mining from $6.50 to $6.30 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $6.00 on Friday. The firm’s 50 day moving average is $5.25 and its two-hundred day moving average is $5.03. The firm has a market capitalization of $1.21 billion, a P/E ratio of -2.90, a PEG ratio of 0.58 and a beta of 0.73. The company has a current ratio of 3.54, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08. SSR Mining has a 52 week low of $3.76 and a 52 week high of $14.73.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $184.84 million for the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. Analysts anticipate that SSR Mining will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On SSR Mining

Several hedge funds have recently made changes to their positions in the business. CWM LLC boosted its holdings in SSR Mining by 178.5% during the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock worth $27,000 after buying an additional 3,926 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of SSR Mining in the 2nd quarter worth $32,000. Creekmur Asset Management LLC acquired a new stake in shares of SSR Mining during the fourth quarter worth $40,000. Abich Financial Wealth Management LLC purchased a new stake in shares of SSR Mining during the first quarter valued at $41,000. Finally, Quarry LP boosted its position in shares of SSR Mining by 119.7% in the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 5,649 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

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.