BMO Capital Markets Boosts SSR Mining (SSRM) Price Target to $12.50

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SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its target price upped by BMO Capital Markets from $11.75 to $12.50 in a report released on Friday, The Fly reports. The brokerage currently has an outperform rating on the basic materials company’s stock. The analysts noted that the move was a valuation call.

SSRM has been the subject of several other reports. BidaskClub raised SSR Mining from a strong sell rating to a sell rating in a research note on Wednesday, September 19th. ValuEngine raised SSR Mining from a hold rating to a buy rating in a research note on Friday, June 15th. Citigroup cut their target price on SSR Mining from $11.00 to $10.00 and set a neutral rating for the company in a research note on Wednesday, August 29th. Scotiabank raised SSR Mining from a sector perform rating to an outperform rating in a research note on Friday. Finally, Zacks Investment Research raised SSR Mining from a sell rating to a hold rating in a research note on Saturday, August 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $11.88.

NASDAQ SSRM traded up $1.16 during mid-day trading on Friday, hitting $10.58. The stock had a trading volume of 2,531,577 shares, compared to its average volume of 830,218. SSR Mining has a twelve month low of $7.64 and a twelve month high of $11.44. The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.20 and a current ratio of 8.67. The company has a market cap of $1.05 billion, a P/E ratio of 31.12 and a beta of -0.36.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Thursday, August 9th. The basic materials company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.08. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The firm had revenue of $104.00 million during the quarter, compared to the consensus estimate of $107.90 million. During the same period in the prior year, the company earned $0.11 EPS. The firm’s revenue was down 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that SSR Mining will post 0.3 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Natixis acquired a new stake in shares of SSR Mining in the 1st quarter worth $145,000. Raymond James & Associates increased its stake in shares of SSR Mining by 36.6% in the 2nd quarter. Raymond James & Associates now owns 23,536 shares of the basic materials company’s stock worth $232,000 after acquiring an additional 6,300 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of SSR Mining by 2,013.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 23,717 shares of the basic materials company’s stock worth $234,000 after acquiring an additional 22,595 shares during the last quarter. BlackRock Inc. increased its stake in shares of SSR Mining by 133.3% in the 2nd quarter. BlackRock Inc. now owns 25,553 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 14,600 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of SSR Mining by 76.0% in the 2nd quarter. Bank of America Corp DE now owns 26,823 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 11,580 shares during the last quarter. 47.53% of the stock is owned by institutional investors and hedge funds.

About SSR Mining

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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