SSR Mining (NASDAQ:SSRM) Shares Gap Up – What’s Next?

by · The Markets Daily

SSR Mining Inc. (NASDAQ:SSRM – Get Free Report) (TSE:SSO)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $9.27, but opened at $9.91. SSR Mining shares last traded at $9.67, with a volume of 506,417 shares.

Wall Street Analyst Weigh In

Several analysts have recently commented on SSRM shares. National Bank Financial raised SSR Mining to a “hold” rating in a report on Friday, March 21st. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and increased their target price for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. UBS Group raised their price target on shares of SSR Mining from $12.10 to $12.35 and gave the stock a “buy” rating in a research note on Friday. Finally, CIBC boosted their target price on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.03.

Get Our Latest Report on SSRM

SSR Mining Stock Up 4.6 %

The firm’s 50 day moving average price is $10.01 and its two-hundred day moving average price is $7.76. The firm has a market capitalization of $2.16 billion, a PE ratio of -8.26, a P/E/G ratio of 0.37 and a beta of 0.30. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last announced its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. As a group, research analysts forecast that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in shares of SSR Mining by 0.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company’s stock worth $1,686,000 after purchasing an additional 1,200 shares during the last quarter. Xponance Inc. lifted its holdings in SSR Mining by 9.3% during the 4th quarter. Xponance Inc. now owns 14,387 shares of the basic materials company’s stock worth $100,000 after buying an additional 1,222 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in SSR Mining by 0.5% during the 4th quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock worth $1,729,000 after buying an additional 1,282 shares during the last quarter. US Bancorp DE increased its holdings in shares of SSR Mining by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 1,360 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in shares of SSR Mining by 11.3% during the 4th quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 1,463 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.

About SSR Mining

(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.

Featured Articles