SSR Mining (SSRM) Rating Increased to Outperform at Scotiabank

Scotiabank upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a sector perform rating to an outperform rating in a research report sent to investors on Friday morning, The Fly reports.

Several other research analysts also recently weighed in on SSRM. TheStreet downgraded SSR Mining from a b- rating to a c rating in a research note on Monday, June 25th. BidaskClub upgraded SSR Mining from a sell rating to a hold rating in a research note on Tuesday. Zacks Investment Research downgraded SSR Mining from a buy rating to a hold rating in a research note on Saturday, June 23rd. ValuEngine upgraded SSR Mining from a hold rating to a buy rating in a research note on Friday, June 15th. Finally, Citigroup decreased their price target 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $11.88.

Shares of SSRM stock traded up $1.16 during midday trading on Friday, hitting $10.58. The company had a trading volume of 2,531,577 shares, compared to its average volume of 830,218. SSR Mining has a 52-week low of $7.64 and a 52-week high of $11.44. The company has a market capitalization of $1.05 billion, a P/E ratio of 31.12 and a beta of -0.36. The company has a current ratio of 8.67, a quick ratio of 6.20 and a debt-to-equity ratio of 0.24.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Thursday, August 9th. The basic materials company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.08. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The company had revenue of $104.00 million for the quarter, compared to the consensus estimate of $107.90 million. During the same period last year, the business posted $0.11 EPS. The company’s revenue was down 11.1% on a year-over-year basis. As a group, equities analysts predict that SSR Mining will post 0.3 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in shares of SSR Mining by 1.3% in the third quarter. Bank of Montreal Can now owns 1,835,412 shares of the basic materials company’s stock valued at $15,987,000 after buying an additional 23,725 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of SSR Mining by 2,013.8% in the second quarter. Tower Research Capital LLC TRC now owns 23,717 shares of the basic materials company’s stock valued at $234,000 after buying an additional 22,595 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of SSR Mining by 76.0% in the second quarter. Bank of America Corp DE now owns 26,823 shares of the basic materials company’s stock valued at $265,000 after buying an additional 11,580 shares in the last quarter. Raymond James & Associates boosted its stake in shares of SSR Mining by 36.6% in the second quarter. Raymond James & Associates now owns 23,536 shares of the basic materials company’s stock valued at $232,000 after buying an additional 6,300 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in shares of SSR Mining by 53.3% in the second quarter. OppenheimerFunds Inc. now owns 690,000 shares of the basic materials company’s stock valued at $6,810,000 after buying an additional 240,000 shares in the last quarter. Hedge funds and other institutional investors own 47.53% of the company’s stock.

SSR Mining Company Profile

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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