SSR Mining’s (SSRM) Buy Rating Reaffirmed at CIBC

CIBC reissued their buy rating on shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) in a research note issued to investors on Tuesday, AnalystRatings.com reports. The firm currently has a $19.50 price target on the basic materials company’s stock.

A number of other equities analysts also recently weighed in on the company. Citigroup upped their target price on SSR Mining from $14.00 to $16.00 and gave the company a neutral rating in a report on Wednesday, September 11th. TheStreet upgraded SSR Mining from a c rating to a b- rating in a report on Monday, August 12th. Zacks Investment Research upgraded SSR Mining from a hold rating to a buy rating and set a $17.00 target price on the stock in a report on Saturday, September 28th. Scotiabank upgraded SSR Mining from a sector perform rating to a sector outperform rating and set a $17.00 target price on the stock in a report on Tuesday, September 10th. Finally, BidaskClub downgraded SSR Mining from a buy rating to a hold rating in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. SSR Mining currently has an average rating of Buy and an average price target of $17.84.

Shares of SSRM traded down $0.09 during trading hours on Tuesday, reaching $14.56. The company’s stock had a trading volume of 127,950 shares, compared to its average volume of 1,230,652. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 63.00 and a beta of -0.50. SSR Mining has a 1-year low of $9.65 and a 1-year high of $17.56. The company has a quick ratio of 2.91, a current ratio of 4.02 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $15.23 and a two-hundred day moving average of $13.76.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Thursday, August 8th. The basic materials company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $155.15 million for the quarter, compared to the consensus estimate of $143.00 million. SSR Mining had a return on equity of 4.84% and a net margin of 4.18%. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, analysts forecast that SSR Mining will post 0.69 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in SSRM. Marshall Wace North America L.P. increased its holdings in SSR Mining by 346.9% in the first quarter. Marshall Wace North America L.P. now owns 50,594 shares of the basic materials company’s stock worth $640,000 after buying an additional 39,273 shares during the last quarter. Advisory Services Network LLC boosted its position in SSR Mining by 40.5% during the first quarter. Advisory Services Network LLC now owns 19,801 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 5,705 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in SSR Mining by 39.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 666,859 shares of the basic materials company’s stock worth $8,443,000 after purchasing an additional 189,659 shares during the period. FNY Investment Advisers LLC boosted its position in 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 worth $68,000 after purchasing an additional 4,750 shares during the period. Finally, SG Americas Securities LLC boosted its position in SSR Mining by 119.2% during the second quarter. SG Americas Securities LLC now owns 70,532 shares of the basic materials company’s stock worth $964,000 after purchasing an additional 38,350 shares during the period. Hedge funds and other institutional investors own 55.91% of the company’s stock.

About SSR Mining

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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