SSR Mining (NASDAQ:SSRM) Price Target Lowered to C$23.00 at National Bank Financial

SSR Mining (NASDAQ:SSRMGet Rating) (TSE:SSO) had its price target cut by National Bank Financial from C$23.50 to C$23.00 in a research report sent to investors on Thursday, The Fly reports.

Other analysts have also recently issued research reports about the company. BMO Capital Markets dropped their price objective on SSR Mining from $26.00 to $25.00 and set an outperform rating for the company in a research report on Friday, September 23rd. StockNews.com assumed coverage on shares of SSR Mining in a research note on Wednesday, October 12th. They issued a hold rating for the company. Scotiabank cut their target price on shares of SSR Mining from C$33.50 to C$30.00 in a research note on Monday, October 24th. TD Securities cut their target price on shares of SSR Mining from C$35.00 to C$34.00 in a research note on Wednesday, November 9th. Finally, Canaccord Genuity Group cut their target price on shares of SSR Mining from C$26.00 to C$25.00 and set a buy rating for the company in a research note on Wednesday, November 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $27.92.

SSR Mining Stock Performance

SSRM opened at $15.01 on Thursday. The stock has a market cap of $3.10 billion, a P/E ratio of 14.57, a P/E/G ratio of 6.03 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 5.17. The stock’s 50 day simple moving average is $14.01 and its 200 day simple moving average is $16.38. SSR Mining has a 1-year low of $12.84 and a 1-year high of $24.58.

SSR Mining Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Friday, November 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, November 17th. SSR Mining’s dividend payout ratio is presently 27.18%.

Insiders Place Their Bets

In other SSR Mining news, COO Steward John Beckman sold 5,400 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $14.16, for a total value of $76,464.00. Following the completion of the transaction, the chief operating officer now owns 135,605 shares in the company, valued at approximately $1,920,166.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 12,517 shares of company stock worth $178,077 in the last 90 days. 0.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On SSR Mining

A number of institutional investors have recently made changes to their positions in the business. Rathbones Group PLC raised its position in shares of SSR Mining by 7.0% during the 1st quarter. Rathbones Group PLC now owns 10,750 shares of the basic materials company’s stock valued at $234,000 after acquiring an additional 700 shares in the last quarter. Rational Advisors LLC raised its position in shares of SSR Mining by 54.9% during the 1st quarter. Rational Advisors LLC now owns 2,232 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 791 shares in the last quarter. First Western Trust Bank raised its position in shares of SSR Mining by 0.3% during the 3rd quarter. First Western Trust Bank now owns 238,318 shares of the basic materials company’s stock valued at $3,506,000 after acquiring an additional 807 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of SSR Mining by 9.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 12,841 shares of the basic materials company’s stock valued at $297,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of SSR Mining by 1.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 90,851 shares of the basic materials company’s stock valued at $1,336,000 after acquiring an additional 1,170 shares in the last quarter. 57.70% of the stock is owned by institutional investors and hedge funds.

About SSR Mining

(Get Rating)

SSR Mining Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, copper, lead, and zinc deposits. Its projects include the Çöpler Gold mine located in Erzincan, Turkey; 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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