SSR Mining (NASDAQ:SSRM) Given New $12.05 Price Target at UBS Group

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its price target raised by UBS Group from $7.15 to $12.05 in a report released on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the basic materials company’s stock.

SSRM has been the subject of several other research reports. 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 boosted their target price for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, SSR Mining presently has an average rating of “Hold” and an average target price of $8.60.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $9.33 on Tuesday. SSR Mining has a 1-year low of $3.90 and a 1-year high of $9.60. The firm has a market capitalization of $1.89 billion, a PE ratio of -3.90 and a beta of 0.62. The business’s 50 day moving average is $7.75 and its 200-day moving average is $6.38. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a negative net margin of 44.13% and a positive return on equity of 4.05%. Sell-side analysts predict that SSR Mining will post 0.34 earnings per share for the current year.

Institutional Trading of SSR Mining

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

About SSR Mining

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.