SSR Mining (TSE:SSRM) Raised to Buy at TD Securities

SSR Mining (TSE:SSRM) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a C$43.00 price objective on the stock, up from their prior price objective of C$33.00. TD Securities’ price objective indicates a potential upside of 20.38% from the stock’s previous close.

Separately, Scotiabank upgraded shares of SSR Mining from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$19.00 to C$39.00 in a research report on Thursday, October 23rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, SSR Mining currently has a consensus rating of “Moderate Buy” and an average price target of C$35.58.

SSR Mining Stock Performance

Shares of SSRM stock traded up C$3.73 during trading on Thursday, reaching C$35.72. 503,816 shares of the company’s stock traded hands, compared to its average volume of 506,720. The firm’s 50-day moving average is C$30.77 and its 200 day moving average is C$27.88. The company has a market capitalization of C$7.25 billion, a P/E ratio of 34.68, a PEG ratio of 5.64 and a beta of 0.63. SSR Mining has a 1 year low of C$10.87 and a 1 year high of C$36.45. The company has a current ratio of 3.91, a quick ratio of 3.80 and a debt-to-equity ratio of 11.04.

SSR Mining (TSE:SSRM) last posted its earnings results on Tuesday, November 4th. The company reported C$0.32 earnings per share (EPS) for the quarter. The firm had revenue of C$537.25 million for the quarter. SSR Mining had a negative return on equity of 15.34% and a negative net margin of 44.13%. Equities research analysts expect that SSR Mining will post 0.8051668 EPS for the current year.

About SSR Mining

SSR Mining Inc is an intermediate gold company with assets located in four jurisdictions: the USA, Türkiye, Canada, and Argentina. These assets are located within several of the world’s most prolific precious metal districts including the Çöpler mine along the Tethyan belt in Türkiye; the Marigold mine along the Battle Mountain-Eureka trend in Nevada, USA; the CC&V mine in the Cripple Creek Mining District of Colorado, USA; the Seabee mine along the Trans-Hudson Corridor in Saskatchewan, Canada; and the Puna mine along the Bolivian silver belt in Jujuy, Argentina.