Zacks Investment Research upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a buy rating in a research report released on Friday. They currently have $15.00 price target on the basic materials company’s stock.

According to Zacks, “SSR Mining Inc. is a mining company. It focused on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, other industrial, technology, pharmaceuticals and solar energy markets. SSR Mining Inc, formerly known as Silver Standard Resources Inc, is based in Vancouver, Canada. “

SSRM has been the topic of several other research reports. ValuEngine raised shares of SSR Mining from a hold rating to a buy rating in a research note on Friday, October 12th. BMO Capital Markets boosted their price objective on shares of SSR Mining from $11.75 to $12.50 and gave the stock an outperform rating in a research note on Friday, October 12th. They noted that the move was a valuation call. BidaskClub cut shares of SSR Mining from a buy rating to a hold rating in a research note on Saturday, December 1st. CIBC restated an average rating and issued a $16.25 target price on shares of SSR Mining in a report on Monday, January 21st. Finally, Howard Weil upgraded shares of SSR Mining from a sector perform rating to a sector outperform rating in a report on Friday, October 12th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $14.88.

Shares of SSR Mining stock opened at $14.01 on Friday. The company has a current ratio of 8.91, a quick ratio of 6.29 and a debt-to-equity ratio of 0.24. SSR Mining has a twelve month low of $7.64 and a twelve month high of $14.12. The firm has a market capitalization of $1.69 billion, a P/E ratio of 41.21 and a beta of -0.34.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Thursday, November 8th. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. SSR Mining had a net margin of 6.12% and a return on equity of 3.14%. The company had revenue of $115.03 million for the quarter, compared to analysts’ expectations of $113.00 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. SSR Mining’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, sell-side analysts predict that SSR Mining will post 0.23 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Investec Asset Management LTD lifted its holdings in SSR Mining by 41.2% in the fourth quarter. Investec Asset Management LTD now owns 5,092,214 shares of the basic materials company’s stock valued at $61,565,000 after buying an additional 1,486,116 shares during the period. Vanguard Group Inc. lifted its holdings in SSR Mining by 4.0% in the third quarter. Vanguard Group Inc. now owns 2,878,489 shares of the basic materials company’s stock valued at $25,071,000 after buying an additional 109,627 shares during the period. Vanguard Group Inc lifted its holdings in SSR Mining by 4.0% in the third quarter. Vanguard Group Inc now owns 2,878,489 shares of the basic materials company’s stock valued at $25,071,000 after buying an additional 109,627 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in SSR Mining by 1.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,382,395 shares of the basic materials company’s stock valued at $20,698,000 after buying an additional 32,800 shares during the period. Finally, Bank of Montreal Can lifted its holdings in SSR Mining by 1.3% in the third quarter. Bank of Montreal Can now owns 1,835,412 shares of the basic materials company’s stock valued at $15,987,000 after buying an additional 23,725 shares during the period. Institutional investors and hedge funds own 48.32% of the company’s stock.

SSR Mining Company Profile

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.

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