SSR Mining Inc. (NASDAQ:SSRM) Receives Average Rating of “Buy” from Analysts

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $30.80.

Several research firms recently issued reports on SSRM. Zacks Investment Research upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Thursday, June 24th. National Bank Financial dropped their price objective on SSR Mining from C$36.00 to C$35.00 and set an “outperform” rating for the company in a report on Friday, July 16th. Canaccord Genuity increased their price objective on SSR Mining from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $27.00 price objective on shares of SSR Mining in a report on Wednesday, June 2nd.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSRM. Amundi Pioneer Asset Management Inc. increased its position in SSR Mining by 39.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 666,859 shares of the basic materials company’s stock valued at $8,443,000 after buying an additional 189,659 shares in the last quarter. Swiss National Bank increased its position in SSR Mining by 1.5% during the 1st quarter. Swiss National Bank now owns 890,749 shares of the basic materials company’s stock valued at $12,732,000 after buying an additional 13,400 shares in the last quarter. Nicola Wealth Management LTD. increased its position in SSR Mining by 16.0% during the 1st quarter. Nicola Wealth Management LTD. now owns 326,000 shares of the basic materials company’s stock valued at $4,659,000 after buying an additional 45,000 shares in the last quarter. Cibc World Markets Corp bought a new position in SSR Mining during the 1st quarter valued at approximately $5,297,000. Finally, BlackRock Inc. increased its position in SSR Mining by 0.4% during the 1st quarter. BlackRock Inc. now owns 8,516,581 shares of the basic materials company’s stock valued at $121,616,000 after buying an additional 30,006 shares in the last quarter. Institutional investors own 50.25% of the company’s stock.

SSRM opened at $15.23 on Friday. The stock’s 50 day simple moving average is $16.05 and its 200 day simple moving average is $16.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.34 and a quick ratio of 4.49. SSR Mining has a 1 year low of $13.68 and a 1 year high of $23.03. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 3.03 and a beta of 1.03.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Wednesday, August 4th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.08. SSR Mining had a return on equity of 9.72% and a net margin of 16.51%. The business had revenue of $376.95 million for the quarter, compared to analyst estimates of $372.84 million. As a group, sell-side analysts anticipate that SSR Mining will post 1.69 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 13th. Stockholders of record on Monday, August 16th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, August 13th. SSR Mining’s payout ratio is presently 14.18%.

SSR Mining Company Profile

SSR Mining, Inc is a gold company. It engages in the operation, development, exploration, and acquisition of metal resource properties located in Turkey and the Americas. The firm focuses on the Çöpler Gold Mine, Puna, Marigold Mines, and Seabee Gold Operations. The company was founded on December 11, 1946 is headquartered in Vancouver, Canada.

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Analyst Recommendations for SSR Mining (NASDAQ:SSRM)

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