SSR Mining (SSRM) Upgraded at Zacks Investment Research

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $12.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 17.19% from the company’s current price.

According to Zacks, “SSR Mining Inc. is a mining company. It focused on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, other industrial, technology, pharmaceuticals and solar energy markets. SSR Mining Inc, formerly known as Silver Standard Resources Inc, is based in Vancouver, Canada. “

Several other equities analysts also recently commented on SSRM. TheStreet upgraded SSR Mining from a “c+” rating to a “b-” rating in a research report on Friday, May 11th. BidaskClub downgraded SSR Mining from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine downgraded SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Scotiabank increased their target price on SSR Mining from $12.00 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. SSR Mining currently has an average rating of “Buy” and an average price target of $12.63.

SSR Mining stock opened at $10.24 on Friday. The company has a quick ratio of 8.63, a current ratio of 10.40 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 30.12 and a beta of -0.17. SSR Mining has a 12 month low of $10.24 and a 12 month high of $10.49.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Thursday, May 10th. The basic materials company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $97.90 million during the quarter, compared to the consensus estimate of $100.40 million. SSR Mining had a return on equity of 2.60% and a net margin of 12.44%. SSR Mining’s quarterly revenue was down 17.0% compared to the same quarter last year. research analysts anticipate that SSR Mining will post 0.27 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of SSRM. Global X Management Co. LLC bought a new position in shares of SSR Mining during the first quarter worth about $22,978,000. Van ECK Associates Corp raised its position in shares of SSR Mining by 11.5% during the first quarter. Van ECK Associates Corp now owns 15,953,971 shares of the basic materials company’s stock worth $153,158,000 after acquiring an additional 1,642,024 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of SSR Mining during the fourth quarter worth about $5,012,000. CIBC Asset Management Inc raised its position in shares of SSR Mining by 919.2% during the first quarter. CIBC Asset Management Inc now owns 499,413 shares of the basic materials company’s stock worth $4,803,000 after acquiring an additional 450,413 shares during the last quarter. Finally, OppenheimerFunds Inc. bought a new position in shares of SSR Mining during the first quarter worth about $4,320,000. Institutional investors own 47.55% of the company’s stock.

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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