SSR Mining (NASDAQ:SSRM) Sets New 1-Year High – Time to Buy?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.29 and last traded at $11.04, with a volume of 2707762 shares trading hands. The stock had previously closed at $10.99.

Analysts Set New Price Targets

SSRM has been the subject of a number of recent analyst reports. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. 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 research note on Wednesday, February 19th. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. Finally, UBS Group increased their target price on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Three 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.93.

SSR Mining Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The stock has a market capitalization of $2.23 billion, a PE ratio of -8.56, a P/E/G ratio of 0.37 and a beta of 0.53. The company has a 50 day moving average of $9.03 and a two-hundred day moving average of $7.15.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. Sell-side analysts predict that SSR Mining Inc. will post 0.73 EPS for the current year.

Hedge Funds Weigh In On SSR Mining

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of SSR Mining by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company’s stock valued at $72,216,000 after buying an additional 71,364 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in SSR Mining by 21.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company’s stock valued at $70,265,000 after acquiring an additional 1,802,821 shares during the last quarter. Cibc World Market Inc. boosted its position in shares of SSR Mining by 22.1% during the 4th quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after acquiring an additional 674,793 shares during the last quarter. Federated Hermes Inc. increased its stake in SSR Mining by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company’s stock worth $25,551,000 after acquiring an additional 1,285,347 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after acquiring an additional 462,000 shares during the period. 68.30% of the stock is owned by hedge funds and other institutional investors.

SSR Mining Company Profile

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.