SSR Mining (NASDAQ:SSRM) Given New $28.50 Price Target at National Bank Financial

SSR Mining (NASDAQ:SSRM) (TSE:SSO) had its target price boosted by National Bank Financial from $28.00 to $28.50 in a research note published on Monday morning, Stock Target Advisor reports. They currently have an outperform rating on the basic materials company’s stock.

Other equities analysts have also recently issued reports about the stock. Citigroup boosted their price target on shares of SSR Mining from $14.00 to $16.00 and gave the company a neutral rating in a report on Wednesday, September 11th. BidaskClub cut shares of SSR Mining from a buy rating to a hold rating in a report on Tuesday, September 17th. BMO Capital Markets upped their price objective on shares of SSR Mining to $19.50 and gave the stock an outperform rating in a report on Tuesday, July 23rd. B. Riley decreased their price objective on shares of SSR Mining from $18.70 to $16.70 and set a neutral rating for the company in a report on Friday, October 11th. Finally, ValuEngine cut shares of SSR Mining from a hold rating to a sell rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $18.78.

NASDAQ SSRM traded down $0.08 on Monday, hitting $14.08. 58,202 shares of the stock were exchanged, compared to its average volume of 1,145,708. The company’s 50-day moving average price is $15.07 and its two-hundred day moving average price is $13.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.02 and a quick ratio of 2.91. SSR Mining has a 52-week low of $9.65 and a 52-week high of $17.56. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 61.15 and a beta of -0.50.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. SSR Mining had a net margin of 4.18% and a return on equity of 4.84%. The business had revenue of $155.15 million for the quarter, compared to analysts’ expectations of $143.00 million. During the same period in the previous year, the company posted $0.10 EPS. SSR Mining’s revenue was up 49.1% on a year-over-year basis. Equities analysts predict that SSR Mining will post 0.69 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Sprott Inc. lifted its position in SSR Mining by 81.1% during the 2nd quarter. Sprott Inc. now owns 600,570 shares of the basic materials company’s stock worth $10,295,000 after acquiring an additional 268,909 shares during the last quarter. Investec Asset Management LTD lifted its position in SSR Mining by 6.0% during the 2nd quarter. Investec Asset Management LTD now owns 5,119,599 shares of the basic materials company’s stock worth $69,985,000 after acquiring an additional 289,535 shares during the last quarter. Acadian Asset Management LLC lifted its position in SSR Mining by 35.2% during the 2nd quarter. Acadian Asset Management LLC now owns 571,507 shares of the basic materials company’s stock worth $7,813,000 after acquiring an additional 148,770 shares during the last quarter. TD Asset Management Inc. raised its position in shares of SSR Mining by 6.8% during the second quarter. TD Asset Management Inc. now owns 1,199,632 shares of the basic materials company’s stock valued at $16,451,000 after buying an additional 76,900 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of SSR Mining by 5,742.5% during the second quarter. Marshall Wace LLP now owns 123,218 shares of the basic materials company’s stock valued at $1,686,000 after buying an additional 121,109 shares during the last quarter. 56.00% of the stock is owned by hedge funds and other 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; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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