SSR Mining (NASDAQ:SSRM) (TSE:SSO) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other analysts have also recently commented on the stock. Credit Suisse Group raised shares of SSR Mining from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 16th. BidaskClub raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. Scotiabank lifted their target price on shares of SSR Mining from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 13th. Finally, TheStreet raised shares of SSR Mining from a “c+” rating to a “b-” rating in a research note on Friday, May 11th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $12.38.

SSRM stock opened at $10.24 on Wednesday. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 30.12 and a beta of -0.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 10.40 and a quick ratio of 8.63. SSR Mining has a one year low of $10.24 and a one year high of $10.49.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Thursday, May 10th. The basic materials company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The firm had revenue of $97.90 million during the quarter, compared to analysts’ expectations of $100.40 million. SSR Mining had a net margin of 12.44% and a return on equity of 2.60%. SSR Mining’s revenue was down 17.0% compared to the same quarter last year. sell-side analysts expect that SSR Mining will post 0.21 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in shares of SSR Mining by 11.5% during the 1st quarter. Van ECK Associates Corp now owns 15,953,971 shares of the basic materials company’s stock valued at $153,158,000 after buying an additional 1,642,024 shares during the period. Renaissance Technologies LLC grew its stake 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 valued at $44,971,000 after buying an additional 388,617 shares during the period. Investec Asset Management LTD grew its stake 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 valued at $27,605,000 after buying an additional 150,490 shares during the period. Global X Management Co. LLC purchased a new stake in shares of SSR Mining during the 1st quarter valued at $22,978,000. Finally, Fiera Capital Corp grew its stake in shares of SSR Mining by 44.6% during the 1st quarter. Fiera Capital Corp now owns 927,501 shares of the basic materials company’s stock valued at $8,921,000 after buying an additional 286,201 shares during the period. 47.55% of the stock is owned by institutional investors.

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; and the Seabee Gold Operation located in Saskatchewan, Canada.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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