SSR Mining (NASDAQ:SSRM) Given New $5.75 Price Target at CIBC

SSR Mining (NASDAQ:SSRMFree Report) (TSE:SSO) had its target price lifted by CIBC from $5.50 to $5.75 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on SSRM. National Bank Financial reaffirmed a sector perform spec overwgt rating on shares of SSR Mining in a research note on Monday, April 8th. StockNews.com upgraded SSR Mining from a sell rating to a hold rating in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, SSR Mining currently has an average rating of Hold and an average target price of $6.56.

Get Our Latest Stock Analysis on SSR Mining

SSR Mining Stock Up 5.9 %

Shares of SSRM opened at $4.87 on Wednesday. SSR Mining has a 1 year low of $3.76 and a 1 year high of $15.27. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.07 and a quick ratio of 1.75. The stock has a 50 day simple moving average of $5.03 and a two-hundred day simple moving average of $6.16. The firm has a market cap of $984.23 million, a P/E ratio of -2.35, a P/E/G ratio of 0.57 and a beta of 0.72.

SSR Mining (NASDAQ:SSRMGet Free Report) (TSE:SSO) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. SSR Mining had a negative net margin of 30.90% and a positive return on equity of 6.37%. The firm had revenue of $230.23 million during the quarter. On average, analysts forecast that SSR Mining will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in shares of SSR Mining by 4.5% during the first quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock valued at $95,619,000 after acquiring an additional 929,850 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of SSR Mining by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock worth $37,034,000 after purchasing an additional 533,880 shares during the period. AustralianSuper Pty Ltd purchased a new stake in shares of SSR Mining in the 4th quarter worth about $50,352,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SSR Mining by 5.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock valued at $16,003,000 after purchasing an additional 191,409 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of SSR Mining by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 3,397,212 shares of the basic materials company’s stock valued at $36,470,000 after buying an additional 18,503 shares during the period. Institutional investors own 68.30% of the company’s stock.

SSR Mining Company Profile

(Get Free Report)

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.

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Analyst Recommendations for SSR Mining (NASDAQ:SSRM)

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