SSR Mining (NASDAQ:SSRM) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a buy rating in a research note published on Friday, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the stock. B. Riley raised shares of SSR Mining from a neutral rating to a buy rating and raised their target price for the company from $16.70 to $23.00 in a research note on Wednesday, November 13th. ValuEngine cut shares of SSR Mining from a hold rating to a sell rating in a research note on Tuesday. TheStreet raised shares of SSR Mining from a c rating to a b- rating in a report on Monday, August 12th. Zacks Investment Research downgraded shares of SSR Mining from a strong-buy rating to a hold rating in a report on Thursday, November 7th. Finally, Scotiabank raised shares of SSR Mining from a sector perform rating to a sector outperform rating and set a $17.00 price objective for the company in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. SSR Mining currently has an average rating of Buy and a consensus target price of $18.63.

SSR Mining stock traded down $0.61 during midday trading on Friday, hitting $16.59. 982,176 shares of the company’s stock were exchanged, compared to its average volume of 1,048,287. The company has a market cap of $2.04 billion, a P/E ratio of 72.13 and a beta of -0.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.86 and a current ratio of 3.98. The stock has a 50-day moving average price of $14.94 and a two-hundred day moving average price of $14.56. SSR Mining has a 52-week low of $10.59 and a 52-week high of $17.56.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.09. SSR Mining had a return on equity of 6.38% and a net margin of 6.13%. The firm had revenue of $147.85 million for the quarter, compared to analysts’ expectations of $195.93 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s revenue was up 28.5% compared to the same quarter last year. As a group, sell-side analysts expect that SSR Mining will post 0.73 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. 1492 Capital Management LLC bought a new stake in shares of SSR Mining in the 3rd quarter worth approximately $509,000. Sprott Inc. raised its position in SSR Mining by 81.1% in the 2nd quarter. Sprott Inc. now owns 600,570 shares of the basic materials company’s stock worth $10,295,000 after purchasing an additional 268,909 shares during the period. Gabelli Funds LLC raised its position in SSR Mining by 121.8% in the 3rd quarter. Gabelli Funds LLC now owns 756,500 shares of the basic materials company’s stock worth $10,984,000 after purchasing an additional 415,500 shares during the period. Usca Ria LLC bought a new stake in SSR Mining in the third quarter worth $44,000. Finally, Acadian Asset Management LLC lifted its stake in SSR Mining by 35.2% in the second quarter. Acadian Asset Management LLC now owns 571,507 shares of the basic materials company’s stock worth $7,813,000 after purchasing an additional 148,770 shares during the last quarter. Institutional investors and hedge funds own 58.93% 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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