SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its price objective boosted by BMO Capital Markets from $11.75 to $12.50 in a report released on Friday morning, The Fly reports. The firm currently has an outperform rating on the basic materials company’s stock. The analysts noted that the move was a valuation call.

Several other equities research analysts have also commented on SSRM. TheStreet lowered SSR Mining from a b- rating to a c rating in a research report on Monday, June 25th. BidaskClub upgraded SSR Mining from a sell rating to a hold rating in a research report on Tuesday. Zacks Investment Research lowered SSR Mining from a buy rating to a hold rating in a research report on Saturday, June 23rd. ValuEngine raised SSR Mining from a hold rating to a buy rating in a research note on Friday, June 15th. Finally, Scotiabank raised SSR Mining from a sector perform rating to an outperform rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. SSR Mining has an average rating of Buy and an average target price of $11.88.

SSR Mining stock traded up $1.16 during mid-day trading on Friday, hitting $10.58. The company had a trading volume of 2,531,577 shares, compared to its average volume of 830,218. The company has a current ratio of 8.67, a quick ratio of 6.20 and a debt-to-equity ratio of 0.24. SSR Mining has a 12-month low of $7.64 and a 12-month high of $11.44. The firm has a market cap of $1.05 billion, a PE ratio of 31.12 and a beta of -0.36.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Thursday, August 9th. The basic materials company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.08. SSR Mining had a return on equity of 2.51% and a net margin of 4.98%. The business had revenue of $104.00 million for the quarter, compared to analyst estimates of $107.90 million. During the same quarter in the prior year, the firm posted $0.11 EPS. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts forecast that SSR Mining will post 0.3 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in shares of SSR Mining by 6.2% during the 2nd quarter. Van ECK Associates Corp now owns 16,948,833 shares of the basic materials company’s stock worth $167,285,000 after buying an additional 994,862 shares during the period. Investec Asset Management LTD raised its stake in shares of SSR Mining by 7.3% during the 2nd quarter. Investec Asset Management LTD now owns 2,508,532 shares of the basic materials company’s stock worth $24,759,000 after buying an additional 169,963 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of SSR Mining by 69.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,349,595 shares of the basic materials company’s stock worth $23,166,000 after buying an additional 961,179 shares during the period. Bank of Montreal Can raised its stake in shares of SSR Mining by 1.3% during the 3rd quarter. Bank of Montreal Can now owns 1,835,412 shares of the basic materials company’s stock worth $15,987,000 after buying an additional 23,725 shares during the period. Finally, TD Asset Management Inc. raised its stake in shares of SSR Mining by 23.9% during the 2nd quarter. TD Asset Management Inc. now owns 1,162,632 shares of the basic materials company’s stock worth $11,463,000 after buying an additional 224,100 shares during the period. 47.53% of the stock is 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; and the Seabee Gold Operation located in Saskatchewan, Canada.

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Analyst Recommendations for SSR Mining (NASDAQ:SSRM)

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