SSR Mining Inc. (NASDAQ:SSRM) Given Consensus Rating of “Reduce” by Brokerages

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been given an average rating of “Reduce” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $6.63.

A number of brokerages have commented on SSRM. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $3.00 price target (down from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. Desjardins cut shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. TheStreet cut shares of SSR Mining from a “c” rating to a “d” rating in a research report on Wednesday, February 28th. TD Securities lowered shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, CIBC cut SSR Mining from a “sector outperform” rating to a “neutral” rating and cut their target price for the stock from $18.50 to $6.00 in a research note on Wednesday, February 14th.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $5.21 on Tuesday. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.05 billion, a PE ratio of -10.22, a PEG ratio of 1.39 and a beta of 0.82. The company’s fifty day moving average is $4.57 and its 200 day moving average is $8.97. SSR Mining has a 52 week low of $3.76 and a 52 week high of $17.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The firm had revenue of $425.90 million for the quarter. During the same period last year, the business posted $0.12 earnings per share. Research analysts anticipate that SSR Mining will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On SSR Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in SSR Mining by 30.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 629,372 shares of the basic materials company’s stock valued at $2,807,000 after acquiring an additional 146,733 shares in the last quarter. Oak Thistle LLC boosted its position in shares of SSR Mining by 20.0% during the first quarter. Oak Thistle LLC now owns 40,083 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 6,680 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in SSR Mining in the first quarter worth $721,000. Wedmont Private Capital purchased a new stake in SSR Mining in the first quarter worth $81,000. Finally, Alaska Permanent Fund Corp raised its holdings in SSR Mining by 17.6% in the first quarter. Alaska Permanent Fund Corp now owns 1,169,423 shares of the basic materials company’s stock worth $5,216,000 after purchasing an additional 175,212 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

About SSR Mining

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.