Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) in a note issued to investors on Wednesday, Briefing.com reports. The firm set an “overweight” rating on the basic materials company’s stock.
Other equities research analysts have also issued research reports about the company. Scotiabank lowered their price objective on SSR Mining from $39.50 to $38.50 and set an “outperform” rating on the stock in a research report on Monday, January 11th. Zacks Investment Research upgraded SSR Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 3rd. Royal Bank of Canada lowered their price objective on SSR Mining from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, December 7th. Bank of America initiated coverage on SSR Mining in a research report on Thursday, December 3rd. They set a “buy” rating and a $28.50 target price on the stock. Finally, National Bank Financial reiterated an “outperform” rating on shares of SSR Mining in a research report on Tuesday, February 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $30.87.
Shares of NASDAQ:SSRM opened at $17.22 on Wednesday. The company has a current ratio of 5.37, a quick ratio of 3.67 and a debt-to-equity ratio of 0.09. SSR Mining has a twelve month low of $9.00 and a twelve month high of $25.32. The company’s 50 day moving average is $18.42 and its 200 day moving average is $19.57. The company has a market cap of $3.78 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.94.
SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Thursday, November 12th. The basic materials company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.21. SSR Mining had a return on equity of 7.81% and a net margin of 9.44%. The business had revenue of $225.40 million for the quarter, compared to analyst estimates of $255.78 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The business’s quarterly revenue was up 52.5% compared to the same quarter last year. Equities research analysts predict that SSR Mining will post 1.28 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in SSRM. Van ECK Associates Corp lifted its holdings in SSR Mining by 74.6% in the 3rd quarter. Van ECK Associates Corp now owns 23,801,621 shares of the basic materials company’s stock valued at $444,263,000 after purchasing an additional 10,170,190 shares in the last quarter. Sprott Inc. lifted its holdings in SSR Mining by 438.1% in the 3rd quarter. Sprott Inc. now owns 5,448,427 shares of the basic materials company’s stock valued at $116,152,000 after purchasing an additional 4,435,834 shares in the last quarter. BlackRock Inc. lifted its holdings in SSR Mining by 66.5% in the 3rd quarter. BlackRock Inc. now owns 6,602,243 shares of the basic materials company’s stock valued at $123,264,000 after purchasing an additional 2,636,880 shares in the last quarter. Ninety One UK Ltd lifted its holdings in SSR Mining by 40.9% in the 3rd quarter. Ninety One UK Ltd now owns 4,851,097 shares of the basic materials company’s stock valued at $90,454,000 after purchasing an additional 1,408,146 shares in the last quarter. Finally, Natixis purchased a new position in SSR Mining in the 3rd quarter valued at $17,668,000. Institutional investors own 51.45% of the company’s stock.
About SSR Mining
SSR Mining Inc, a resource company, 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 southeastern 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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