SSR Mining (NASDAQ:SSRM) Shares Up 7.6% – Still a Buy?

by · The Markets Daily

SSR Mining Inc. (NASDAQ:SSRM – Get Free Report) (TSE:SSO)’s stock price shot up 7.6% during mid-day trading on Friday . The stock traded as high as $6.26 and last traded at $6.26. 1,300,549 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 3,561,484 shares. The stock had previously closed at $5.82.

Analyst Ratings Changes

A number of research firms have commented on SSRM. CIBC boosted their target price on SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. UBS Group increased their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, SSR Mining presently has a consensus rating of “Hold” and an average price target of $7.01.

Check Out Our Latest Stock Analysis on SSRM

SSR Mining Price Performance

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.62, a P/E/G ratio of 0.60 and a beta of 0.73. The company has a quick ratio of 1.78, a current ratio of 3.54 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $5.49 and its two-hundred day moving average price is $5.23.

SSR Mining (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. SSR Mining had a negative net margin of 39.15% and a positive return on equity of 5.01%. The firm had revenue of $184.84 million for the quarter. Analysts anticipate that SSR Mining Inc. will post 0.54 EPS for the current fiscal year.

Institutional Trading of SSR Mining

Several hedge funds have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. increased its holdings in SSR Mining by 45.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock worth $37,124,000 after purchasing an additional 2,587,212 shares in the last quarter. Tidal Investments LLC acquired a new stake in SSR Mining in the 1st quarter worth about $6,485,000. National Bank of Canada FI grew its position in SSR Mining by 73.7% during the second quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock worth $11,815,000 after buying an additional 1,118,417 shares in the last quarter. Van ECK Associates Corp increased its holdings in SSR Mining by 4.5% in the 1st quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock valued at $95,619,000 after buying an additional 929,850 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in SSR Mining during the second quarter valued at approximately $3,289,000. 68.30% of the stock is owned by institutional investors.

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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