Brokerages Set SSR Mining Inc (SSRM) Target Price at $11.83

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SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) has earned an average rating of “Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.25.

Several brokerages recently weighed in on SSRM. ValuEngine upgraded SSR Mining from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub cut SSR Mining from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. Scotiabank upgraded SSR Mining from a “sector perform” rating to an “outperform” rating in a research report on Friday. BMO Capital Markets lifted their price target on SSR Mining from $11.75 to $12.50 and gave the company an “outperform” rating in a research report on Friday. They noted that the move was a valuation call. Finally, Howard Weil upgraded SSR Mining from a “sector perform” rating to a “sector outperform” rating in a research report on Friday.

Shares of SSR Mining stock traded up $1.16 on Wednesday, reaching $10.58. 2,531,577 shares of the stock were exchanged, compared to its average volume of 830,218. The company has a quick ratio of 6.20, a current ratio of 8.67 and a debt-to-equity ratio of 0.24. SSR Mining has a twelve month low of $7.64 and a twelve month high of $11.44. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 31.12 and a beta of -0.36.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.08. The company had revenue of $104.00 million during the quarter, compared to analysts’ expectations of $107.90 million. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. SSR Mining’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period last year, the business earned $0.11 earnings per share. Research analysts anticipate that SSR Mining will post 0.3 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Swiss National Bank increased its position in shares of SSR Mining by 2.9% in the first quarter. Swiss National Bank now owns 208,411 shares of the basic materials company’s stock valued at $2,005,000 after buying an additional 5,800 shares in the last quarter. Raymond James & Associates increased its position in shares of SSR Mining by 36.6% in the second quarter. Raymond James & Associates now owns 23,536 shares of the basic materials company’s stock valued at $232,000 after buying an additional 6,300 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of SSR Mining by 14.3% in the second quarter. Great West Life Assurance Co. Can now owns 64,560 shares of the basic materials company’s stock valued at $636,000 after buying an additional 8,088 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of SSR Mining by 7.7% in the first quarter. Guggenheim Capital LLC now owns 152,545 shares of the basic materials company’s stock valued at $1,465,000 after buying an additional 10,862 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of SSR Mining by 76.0% in the second quarter. Bank of America Corp DE now owns 26,823 shares of the basic materials company’s stock valued at $265,000 after buying an additional 11,580 shares in the last quarter. Institutional investors own 47.53% 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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