BidaskClub upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a sell rating to a hold rating in a research report sent to investors on Tuesday.
A number of other equities research analysts have also issued reports on the company. Citigroup reduced their target price on SSR Mining from $11.00 to $10.00 and set a neutral rating on the stock in a research note on Wednesday, August 29th. ValuEngine lowered SSR Mining from a buy rating to a hold rating in a research note on Monday, August 13th. Zacks Investment Research raised SSR Mining from a sell rating to a hold rating in a research note on Saturday, August 11th. Finally, TheStreet lowered SSR Mining from a b- rating to a c rating in a research note on Monday, June 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. SSR Mining currently has a consensus rating of Buy and an average price target of $11.88.
SSRM stock opened at $10.58 on Tuesday. SSR Mining has a 1 year low of $7.64 and a 1 year high of $11.44. The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.20 and a current ratio of 8.67. The company has a market capitalization of $1.05 billion, a P/E ratio of 31.12 and a beta of -0.36.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Thursday, August 9th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The firm had revenue of $104.00 million for the quarter, compared to analyst estimates of $107.90 million. During the same quarter in the prior year, the company earned $0.11 EPS. SSR Mining’s revenue was down 11.1% on a year-over-year basis. Analysts expect that SSR Mining will post 0.3 earnings per share for the current year.
Several institutional investors have recently modified their holdings of SSRM. Natixis purchased a new position in shares of SSR Mining during the 1st quarter worth $145,000. Raymond James & Associates lifted its stake in shares of SSR Mining by 36.6% during the 2nd quarter. Raymond James & Associates now owns 23,536 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 6,300 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of SSR Mining by 2,013.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 23,717 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 22,595 shares during the period. BlackRock Inc. lifted its stake in shares of SSR Mining by 133.3% during the 2nd quarter. BlackRock Inc. now owns 25,553 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 14,600 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of SSR Mining by 76.0% during the 2nd quarter. Bank of America Corp DE now owns 26,823 shares of the basic materials company’s stock worth $265,000 after purchasing an additional 11,580 shares during the period. 47.53% of the stock is currently owned by institutional investors.
About SSR Mining
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; and the Seabee Gold Operation located in Saskatchewan, Canada.
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