SSR Mining (TSE:SSRM) Reaches New 1-Year High Following Analyst Upgrade

SSR Mining Inc. (TSE:SSRM) hit a new 52-week high on Friday after TD Securities upgraded the stock from a hold rating to a buy rating. TD Securities now has a C$43.00 price target on the stock, up from their previous price target of C$33.00. SSR Mining traded as high as C$36.95 and last traded at C$35.71, with a volume of 281708 shares changing hands. The stock had previously closed at C$35.82.

Separately, Scotiabank raised SSR Mining from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$19.00 to C$39.00 in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$35.58.

SSR Mining Stock Performance

The company has a market capitalization of C$7.30 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 11.04, a quick ratio of 3.80 and a current ratio of 3.91. The business has a 50 day moving average of C$31.01 and a 200-day moving average of C$28.06.

SSR Mining (TSE:SSRM) last released its quarterly earnings results on Tuesday, November 4th. The company reported C$0.32 earnings per share for the quarter. SSR Mining had a negative return on equity of 15.34% and a negative net margin of 44.13%.The firm had revenue of C$537.25 million for the quarter. On average, sell-side analysts predict that SSR Mining Inc. will post 0.8051668 EPS for the current fiscal year.

About SSR Mining

SSR Mining Inc is an intermediate gold company with assets located in four jurisdictions: the USA, Türkiye, Canada, and Argentina. These assets are located within several of the world’s most prolific precious metal districts including the Çöpler mine along the Tethyan belt in Türkiye; the Marigold mine along the Battle Mountain-Eureka trend in Nevada, USA; the CC&V mine in the Cripple Creek Mining District of Colorado, USA; the Seabee mine along the Trans-Hudson Corridor in Saskatchewan, Canada; and the Puna mine along the Bolivian silver belt in Jujuy, Argentina.