SSR Mining Inc (SSRM) Given Average Recommendation of “Hold” by Brokerages

Shares of SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) have received a consensus rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $12.75.

A number of analysts have commented on the stock. BidaskClub raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. Scotiabank upped their price target on shares of SSR Mining from $12.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 13th. Credit Suisse Group raised shares of SSR Mining from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 16th. Zacks Investment Research raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, National Bank Financial reaffirmed an “outperform market weight” rating on shares of SSR Mining in a research report on Wednesday, December 13th.

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Shares of SSRM stock opened at $9.67 on Friday. The company has a current ratio of 11.19, a quick ratio of 8.63 and a debt-to-equity ratio of 0.23. The company has a market cap of $1,114.87, a price-to-earnings ratio of 16.39 and a beta of -0.11. SSR Mining has a 1 year low of $7.64 and a 1 year high of $11.49.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.09). The firm had revenue of $107.88 million for the quarter, compared to the consensus estimate of $113.00 million. SSR Mining had a net margin of 15.76% and a return on equity of 4.04%. The firm’s quarterly revenue was down 15.3% compared to the same quarter last year. equities research analysts expect that SSR Mining will post 0.22 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of SSR Mining by 8.2% during the 4th quarter. Renaissance Technologies LLC now owns 5,116,200 shares of the basic materials company’s stock worth $44,971,000 after purchasing an additional 388,617 shares in the last quarter. Investec Asset Management LTD boosted its position in shares of SSR Mining by 5.0% during the 4th quarter. Investec Asset Management LTD now owns 3,140,554 shares of the basic materials company’s stock worth $27,605,000 after purchasing an additional 150,490 shares in the last quarter. Paloma Partners Management Co boosted its position in shares of SSR Mining by 75.9% during the 4th quarter. Paloma Partners Management Co now owns 830,548 shares of the basic materials company’s stock worth $7,300,000 after purchasing an additional 358,459 shares in the last quarter. Loews Corp boosted its position in shares of SSR Mining by 94.8% during the 4th quarter. Loews Corp now owns 804,644 shares of the basic materials company’s stock worth $7,073,000 after purchasing an additional 391,526 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of SSR Mining during the 4th quarter worth about $5,012,000. 47.20% of the stock is currently owned by institutional investors.

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About SSR Mining

SSR Mining Inc, formerly Silver Standard Resources Inc, is a Canada-based resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company’s segments include Pirquitas mine, Marigold mine, Seabee Gold Operation, and Exploration and evaluation properties.

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