SSR Mining (SSRM) Rating Increased to Strong-Buy at BidaskClub

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday, December 27th.

A number of other analysts also recently issued reports on the company. Howard Weil upgraded SSR Mining from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, October 12th. Scotiabank upgraded SSR Mining from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 12th. Canaccord Genuity restated a “buy” rating on shares of SSR Mining in a research report on Sunday, October 21st. ValuEngine upgraded SSR Mining from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $14.00 target price on shares of SSR Mining in a research report on Monday, December 17th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. SSR Mining has a consensus rating of “Buy” and an average price target of $12.25.

Shares of SSRM stock traded down $0.05 on Thursday, reaching $12.37. The company’s stock had a trading volume of 663,479 shares, compared to its average volume of 850,225. SSR Mining has a 1 year low of $7.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.29 and a current ratio of 8.91. The firm has a market cap of $1.52 billion, a PE ratio of 36.38 and a beta of -0.57.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Thursday, November 8th. The basic materials company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. SSR Mining had a net margin of 6.12% and a return on equity of 3.14%. The firm had revenue of $115.03 million during the quarter, compared to analyst estimates of $113.00 million. During the same period last year, the firm posted $0.04 earnings per share. SSR Mining’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts predict that SSR Mining will post 0.24 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of SSR Mining during the third quarter valued at $15,949,000. Shell Asset Management Co. increased its stake in shares of SSR Mining by 13,250.5% during the third quarter. Shell Asset Management Co. now owns 1,544,124 shares of the basic materials company’s stock valued at $13,449,000 after buying an additional 1,532,558 shares during the period. Van ECK Associates Corp increased its stake in shares of SSR Mining by 6.2% during the second quarter. Van ECK Associates Corp now owns 16,948,833 shares of the basic materials company’s stock valued at $167,285,000 after buying an additional 994,862 shares during the period. Morgan Stanley increased its stake in shares of SSR Mining by 80.6% during the third quarter. Morgan Stanley now owns 1,231,032 shares of the basic materials company’s stock valued at $10,722,000 after buying an additional 549,539 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in shares of SSR Mining by 53.3% during the second quarter. OppenheimerFunds Inc. now owns 690,000 shares of the basic materials company’s stock valued at $6,810,000 after buying an additional 240,000 shares during the period. Institutional investors and hedge funds own 49.02% of the company’s stock.

SSR Mining Company Profile

SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; and the Seabee Gold Operation located in Saskatchewan, Canada.

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Analyst Recommendations for SSR Mining (NASDAQ:SSRM)

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