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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been given an average recommendation of “Reduce” by the seven brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $6.63.

Several equities analysts have issued reports on the company. CIBC cut SSR Mining from a “sector outperform” rating to a “neutral” rating and dropped their target price for the stock from $18.50 to $6.00 in a research report on Wednesday, February 14th. TheStreet cut SSR Mining from a “c” rating to a “d” rating in a report on Wednesday, February 28th. UBS Group cut SSR Mining from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $17.00 to $5.00 in a report on Thursday, February 22nd. Desjardins cut SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Scotiabank cut SSR Mining from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, February 14th.

Institutional Investors Weigh In On SSR Mining

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Simplicity Wealth LLC purchased a new stake in SSR Mining in the 1st quarter valued at approximately $72,000. Assenagon Asset Management S.A. purchased a new stake in SSR Mining in the 1st quarter valued at approximately $838,000. Allspring Global Investments Holdings LLC lifted its stake in SSR Mining by 30.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 629,372 shares of the basic materials company’s stock valued at $2,807,000 after buying an additional 146,733 shares in the last quarter. Oak Thistle LLC lifted its stake in shares of SSR Mining by 20.0% during the 1st quarter. Oak Thistle LLC now owns 40,083 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 6,680 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of SSR Mining during the 1st quarter worth $721,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Stock Performance

NASDAQ SSRM opened at $5.57 on Tuesday. The company has a current ratio of 7.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $4.63 and its two-hundred day moving average is $8.78. SSR Mining has a 12-month low of $3.76 and a 12-month high of $17.72. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -10.92, a PEG ratio of 1.70 and a beta of 0.82.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The company had revenue of $425.90 million for the quarter. During the same quarter in the previous year, the firm posted $0.12 EPS. Research analysts expect that SSR Mining will post 0.18 EPS for the current 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.