SSR Mining (NASDAQ:SSRM) Hits New 52-Week High – Still a Buy?

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) reached a new 52-week high on Wednesday . The company traded as high as $11.29 and last traded at $11.04, with a volume of 2707762 shares traded. The stock had previously closed at $10.99.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SSRM shares. CIBC lifted their target price on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, UBS Group lifted their price target on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.93.

SSR Mining Price Performance

The firm has a fifty day moving average of $9.17 and a two-hundred day moving average of $7.20. The stock has a market capitalization of $2.25 billion, a P/E ratio of -8.61, a P/E/G ratio of 0.37 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The business had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. On average, analysts predict that SSR Mining Inc. will post 0.73 EPS for the current year.

Hedge Funds Weigh In On SSR Mining

A number of large investors have recently bought and sold shares of the business. US Bancorp DE increased its holdings in shares of SSR Mining by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 1,360 shares during the period. SBI Securities Co. Ltd. bought a new stake in SSR Mining during the fourth quarter valued at about $29,000. Allianz SE purchased a new position in SSR Mining in the fourth quarter valued at about $30,000. Point72 DIFC Ltd bought a new position in SSR Mining in the third quarter worth about $47,000. Finally, Lincoln Capital LLC purchased a new stake in shares of SSR Mining during the fourth quarter valued at about $70,000. Institutional investors own 68.30% of the company’s stock.

About SSR Mining

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.