SSR Mining (TSE:SSRM) Shares Up 9.5% – Here’s Why

SSR Mining Inc. (TSE:SSRM) was up 9.5% on Friday . The company traded as high as C$37.46 and last traded at C$37.42. Approximately 141,377 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 552,840 shares. The stock had previously closed at C$34.16.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SSRM. National Bank Financial raised shares of SSR Mining from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$43.00 to C$57.00 in a research note on Thursday, March 5th. TD Securities increased their price target on shares of SSR Mining from C$45.00 to C$53.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, BMO Capital Markets upgraded shares of SSR Mining from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$27.00 to C$41.00 in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$47.50.

SSR Mining Price Performance

The stock has a market cap of C$7.51 billion, a PE ratio of 19.83, a PEG ratio of 5.64 and a beta of 1.07. The business’s 50-day simple moving average is C$37.32 and its 200-day simple moving average is C$33.32. The company has a quick ratio of 3.80, a current ratio of 2.08 and a debt-to-equity ratio of 11.76.

SSR Mining (TSE:SSRM) last announced its quarterly earnings results on Saturday, January 31st. The company reported C$1.21 EPS for the quarter. SSR Mining had a return on equity of 12.03% and a net margin of 24.34%.The company had revenue of C$694.09 million during the quarter. On average, research analysts expect 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.