SSR Mining (NASDAQ:SSRM) Lowered to Hold at BidaskClub

BidaskClub cut shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a buy rating to a hold rating in a report issued on Tuesday morning, BidAskClub reports.

Other research analysts have also issued research reports about the company. BMO Capital Markets boosted their price objective on SSR Mining to $19.50 and gave the company an outperform rating in a research report on Tuesday, July 23rd. ValuEngine lowered SSR Mining from a buy rating to a hold rating in a research report on Saturday, September 14th. Scotiabank upgraded SSR Mining from a sector perform rating to a sector outperform rating and set a $17.00 price objective for the company in a research report on Tuesday, September 10th. TheStreet upgraded SSR Mining from a c rating to a b- rating in a research report on Monday, August 12th. Finally, Citigroup boosted their price objective on SSR Mining from $14.00 to $16.00 and gave the company a neutral rating in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. SSR Mining has a consensus rating of Buy and a consensus price target of $17.31.

Shares of NASDAQ SSRM opened at $14.92 on Tuesday. SSR Mining has a twelve month low of $8.43 and a twelve month high of $17.56. The company has a current ratio of 4.02, a quick ratio of 2.91 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 64.87 and a beta of -0.36. The business has a 50 day simple moving average of $15.92 and a 200-day simple moving average of $13.55.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Thursday, August 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.09. SSR Mining had a return on equity of 4.84% and a net margin of 4.18%. The business had revenue of $155.15 million during the quarter, compared to analyst estimates of $143.00 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. As a group, equities analysts predict that SSR Mining will post 0.64 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Investec Asset Management LTD boosted its position in SSR Mining by 6.0% during the 2nd quarter. Investec Asset Management LTD now owns 5,119,599 shares of the basic materials company’s stock worth $69,985,000 after acquiring an additional 289,535 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in SSR Mining by 9.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,122,916 shares of the basic materials company’s stock worth $56,539,000 after acquiring an additional 367,800 shares during the period. Vanguard Group Inc. boosted its position in SSR Mining by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,234,557 shares of the basic materials company’s stock worth $44,216,000 after acquiring an additional 117,919 shares during the period. Bank of Montreal Can boosted its position in SSR Mining by 92.6% during the 2nd quarter. Bank of Montreal Can now owns 2,577,586 shares of the basic materials company’s stock worth $35,236,000 after acquiring an additional 1,239,501 shares during the period. Finally, Fiera Capital Corp boosted its position in SSR Mining by 4.3% during the 2nd quarter. Fiera Capital Corp now owns 1,328,851 shares of the basic materials company’s stock worth $18,188,000 after acquiring an additional 54,748 shares during the period. Institutional investors own 56.47% 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; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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Analyst Recommendations for SSR Mining (NASDAQ:SSRM)

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