SSR Mining (NASDAQ:SSRM) (TSE:SSO) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.
SSRM has been the topic of a number of other reports. BidaskClub raised SSR Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. BMO Capital Markets lifted their target price on SSR Mining to $19.50 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Zacks Investment Research raised SSR Mining from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a report on Tuesday, April 30th. Finally, Citigroup set a $14.00 target price on SSR Mining and gave the stock a “hold” rating in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $15.94.
Shares of SSRM traded down $0.11 during trading hours on Thursday, reaching $16.27. 939,490 shares of the company’s stock traded hands, compared to its average volume of 1,297,827. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 70.74 and a beta of -0.34. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.36 and a quick ratio of 3.04. SSR Mining has a twelve month low of $8.11 and a twelve month high of $16.78. The stock has a fifty day simple moving average of $14.24.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Thursday, May 9th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The firm had revenue of $126.30 million for the quarter, compared to analyst estimates of $127.70 million. SSR Mining had a return on equity of 4.38% and a net margin of 3.43%. SSR Mining’s revenue was up 29.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. On average, research analysts forecast that SSR Mining will post 0.54 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of SSRM. FNY Investment Advisers LLC increased its stake in 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 worth $68,000 after purchasing an additional 4,750 shares in the last quarter. Aperio Group LLC purchased a new position in SSR Mining in the 2nd quarter worth about $122,000. FIL Ltd purchased a new position in SSR Mining in the 1st quarter worth about $123,000. Advisory Services Network LLC increased its stake in SSR Mining by 138.6% in the 4th quarter. Advisory Services Network LLC now owns 14,096 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 8,188 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in SSR Mining in the 1st quarter worth about $239,000. 54.98% 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; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.
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