SSR Mining (NASDAQ:SSRM) Shares Up 3.3% – Should You Buy?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) shares shot up 3.3% on Tuesday . The company traded as high as $11.32 and last traded at $11.16. 242,126 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,699,237 shares. The stock had previously closed at $10.81.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of SSR Mining to a “hold” rating in a research note on Friday. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. UBS Group increased their price target on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, CIBC upped their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday, February 19th. 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 has an average rating of “Hold” and a consensus price target of $9.93.

SSR Mining Trading Up 2.5 %

The stock has a market cap of $2.24 billion, a PE ratio of -8.61, a P/E/G ratio of 0.37 and a beta of 0.53. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $9.32 and a 200-day simple moving average of $7.32.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its 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 positive return on equity of 1.46% and a negative net margin of 26.24%. The company had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. Equities analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On SSR Mining

Several hedge funds have recently bought and sold shares of SSRM. Intech Investment Management LLC purchased a new stake in SSR Mining in the 3rd quarter worth approximately $261,000. Charles Schwab Investment Management Inc. increased its holdings in shares of SSR Mining by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company’s stock worth $7,542,000 after purchasing an additional 75,563 shares during the period. Quantbot Technologies LP raised its position in shares of SSR Mining by 27.1% in the third quarter. Quantbot Technologies LP now owns 66,730 shares of the basic materials company’s stock worth $379,000 after buying an additional 14,223 shares in the last quarter. Townsquare Capital LLC bought a new stake in SSR Mining during the third quarter valued at $139,000. Finally, MetLife Investment Management LLC grew its position in SSR Mining by 129.1% during the third quarter. MetLife Investment Management LLC now owns 118,642 shares of the basic materials company’s stock worth $674,000 after buying an additional 66,850 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.