SSR Mining Inc (SSRM) Given Average Recommendation of “Buy” by Analysts

Shares of SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) have earned an average recommendation of “Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $11.25.

SSRM has been the topic of a number of analyst reports. Zacks Investment Research downgraded SSR Mining from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. ValuEngine downgraded SSR Mining from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. BidaskClub downgraded SSR Mining from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. Citigroup reduced their price target on SSR Mining from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 29th. Finally, Scotiabank raised SSR Mining from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 12th.

Shares of NASDAQ:SSRM opened at $9.97 on Friday. The company has a market cap of $1.20 billion, a P/E ratio of 29.32 and a beta of -0.41. 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.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.08. The business had revenue of $104.00 million for the quarter, compared to the consensus estimate of $107.90 million. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. On average, analysts anticipate that SSR Mining will post 0.22 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of SSRM. Russell Investments Group Ltd. boosted its holdings in shares of SSR Mining by 172.7% in the 1st quarter. Russell Investments Group Ltd. now owns 70,906 shares of the basic materials company’s stock valued at $674,000 after purchasing an additional 44,901 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of SSR Mining by 7.7% in the 1st quarter. Guggenheim Capital LLC now owns 152,545 shares of the basic materials company’s stock valued at $1,465,000 after purchasing an additional 10,862 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of SSR Mining by 133.2% in the 1st quarter. Legal & General Group Plc now owns 37,286 shares of the basic materials company’s stock valued at $359,000 after purchasing an additional 21,294 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of SSR Mining by 1.2% in the 2nd quarter. Bank of Montreal Can now owns 1,811,687 shares of the basic materials company’s stock valued at $17,881,000 after purchasing an additional 22,308 shares in the last quarter. Finally, Exane Derivatives boosted its holdings in shares of SSR Mining by 37.7% in the 2nd quarter. Exane Derivatives now owns 108,672 shares of the basic materials company’s stock valued at $1,071,000 after purchasing an additional 29,747 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for SSR Mining (NASDAQ:SSRM)

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