SSR Mining (NASDAQ:SSRM) Price Target Raised to $28.50

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its target price increased by National Bank Financial from $28.00 to $28.50 in a research report released on Monday morning, Stock Target Advisor reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

SSRM has been the topic of several other reports. Citigroup increased their price target on shares of SSR Mining from $14.00 to $16.00 and gave the company a neutral rating in a research note on Wednesday, September 11th. ValuEngine cut shares of SSR Mining from a hold rating to a sell rating in a research note on Friday, October 11th. CIBC reissued a buy rating and set a $19.50 price target on shares of SSR Mining in a research note on Tuesday, October 15th. Scotiabank raised shares of SSR Mining from a sector perform rating to a sector outperform rating and set a $17.00 price target on the stock in a research note on Tuesday, September 10th. Finally, Zacks Investment Research raised shares of SSR Mining from a hold rating to a buy rating and set a $17.00 price target on the stock in a research note on Saturday, September 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $18.78.

SSR Mining stock traded down $0.08 during trading hours on Monday, hitting $14.08. 58,202 shares of the stock were exchanged, compared to its average volume of 1,145,708. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.91 and a current ratio of 4.02. The stock has a market capitalization of $1.80 billion, a P/E ratio of 61.15 and a beta of -0.50. SSR Mining has a 12 month low of $9.65 and a 12 month high of $17.56. The business’s 50-day moving average is $15.07 and its two-hundred day moving average is $13.80.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Thursday, August 8th. The basic materials company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.09. The firm had revenue of $155.15 million for the quarter, compared to analysts’ expectations of $143.00 million. SSR Mining had a net margin of 4.18% and a return on equity of 4.84%. The company’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities analysts predict that SSR Mining will post 0.69 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC grew its stake in shares of SSR Mining by 1,900.0% during the second quarter. FNY Investment Advisers LLC now owns 5,000 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 4,750 shares during the last quarter. Aperio Group LLC acquired a new position in SSR Mining in the second quarter valued at approximately $122,000. Cubist Systematic Strategies LLC lifted its holdings in SSR Mining by 45.4% in the second quarter. Cubist Systematic Strategies LLC now owns 17,102 shares of the basic materials company’s stock valued at $234,000 after buying an additional 5,341 shares during the period. USA Financial Portformulas Corp lifted its holdings in SSR Mining by 18.5% in the second quarter. USA Financial Portformulas Corp now owns 17,772 shares of the basic materials company’s stock valued at $225,000 after buying an additional 2,780 shares during the period. Finally, Algert Global LLC acquired a new position in SSR Mining in the second quarter valued at approximately $278,000. 56.00% of the stock is currently owned by institutional investors and hedge funds.

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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