SSR Mining (NASDAQ:SSRM) Reaches New 1-Year High After Analyst Upgrade

SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO)’s share price hit a new 52-week high during mid-day trading on Monday after B. Riley raised their price target on the stock from $14.10 to $14.75. B. Riley currently has a neutral rating on the stock. SSR Mining traded as high as $17.08 and last traded at $17.05, with a volume of 4662 shares changing hands. The stock had previously closed at $16.27.

Several other brokerages have also issued reports on SSRM. Citigroup set a $14.00 price target on SSR Mining and gave the company a “hold” rating in a report on Tuesday, July 2nd. BidaskClub upgraded SSR Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. Zacks Investment Research upgraded SSR Mining from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a report on Tuesday, April 30th. BMO Capital Markets lifted their price target on SSR Mining to $19.50 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, ValuEngine lowered SSR Mining from a “strong-buy” rating to a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. SSR Mining presently has an average rating of “Buy” and an average target price of $15.94.

Institutional investors have recently made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of SSR Mining by 0.6% in the 4th quarter. American Century Companies Inc. now owns 199,700 shares of the basic materials company’s stock valued at $2,414,000 after acquiring an additional 1,100 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of SSR Mining by 2.3% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 118,030 shares of the basic materials company’s stock valued at $1,492,000 after acquiring an additional 2,660 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of SSR Mining by 6.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 57,690 shares of the basic materials company’s stock valued at $726,000 after acquiring an additional 3,735 shares in the last quarter. Swiss National Bank raised its stake in shares of SSR Mining by 2.1% in the 2nd quarter. Swiss National Bank now owns 225,211 shares of the basic materials company’s stock valued at $3,082,000 after acquiring an additional 4,700 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in shares of SSR Mining by 1,900.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 5,000 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 4,750 shares in the last quarter. Institutional investors and hedge funds own 55.01% of the company’s stock.

The company’s 50 day moving average is $14.24. The company has a quick ratio of 3.04, a current ratio of 4.36 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 73.65 and a beta of -0.34.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.06. SSR Mining had a return on equity of 4.38% and a net margin of 3.43%. The business had revenue of $126.30 million for the quarter, compared to the consensus estimate of $127.70 million. During the same period last year, the business earned $0.05 EPS. The firm’s revenue was up 29.0% compared to the same quarter last year. As a group, equities research analysts forecast that SSR Mining Inc will post 0.54 EPS for the current fiscal year.

About SSR Mining (NASDAQ:SSRM)

SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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