SSR Mining (NASDAQ:SSRM) Reaches New 52-Week High – Here’s What Happened

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $11.41 and last traded at $11.37, with a volume of 178607 shares traded. The stock had previously closed at $11.21.

Analyst Upgrades and Downgrades

SSRM has been the subject of a number of research analyst reports. UBS Group boosted their price objective on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday, February 18th. CIBC increased their price objective on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised shares of 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 report on Wednesday, February 5th. National Bank Financial raised shares of SSR Mining to a “hold” rating in a research report on Friday, March 21st. Finally, StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Four research 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, SSR Mining currently has an average rating of “Hold” and an average target price of $9.93.

SSR Mining Trading Down 1.0 %

The stock has a market capitalization of $2.25 billion, a P/E ratio of -8.57, a P/E/G ratio of 0.37 and a beta of 0.53. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $9.53 and a two-hundred day moving average price of $7.41.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data 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 the consensus estimate of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. On average, analysts expect that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Institutional Trading of SSR Mining

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SSR Mining by 21.8% during the fourth 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 purchasing an additional 1,802,821 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of SSR Mining by 53.9% in the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company’s stock valued at $25,551,000 after purchasing an additional 1,285,347 shares during the last quarter. Cibc World Market Inc. raised its holdings 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 worth $25,967,000 after buying an additional 674,793 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of SSR Mining by 16.2% during the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after buying an additional 462,000 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of SSR Mining by 14.7% during the 4th quarter. Tidal Investments LLC now owns 3,174,367 shares of the basic materials company’s stock worth $22,094,000 after buying an additional 407,920 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

About SSR Mining

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.