SSR Mining (TSE:SSRM) Hits New 52-Week High – Here’s Why

SSR Mining Inc. (TSE:SSRM) shares hit a new 52-week high on Thursday . The stock traded as high as C$38.88 and last traded at C$35.73, with a volume of 511492 shares trading hands. The stock had previously closed at C$38.17.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SSRM. Scotiabank raised SSR Mining from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$19.00 to C$39.00 in a research report on Thursday, October 23rd. TD Securities upgraded SSR Mining from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$33.00 to C$43.00 in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, SSR Mining has an average rating of “Moderate Buy” and a consensus price target of C$35.58.

SSR Mining Stock Down 5.2%

The company has a debt-to-equity ratio of 11.04, a quick ratio of 3.80 and a current ratio of 3.91. The firm has a market cap of C$7.34 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 5.64 and a beta of 0.63. The business’s 50 day moving average price is C$31.48 and its 200 day moving average price is C$28.57.

SSR Mining (TSE:SSRM) last announced its earnings results on Tuesday, November 4th. The company reported C$0.32 earnings per share (EPS) for the quarter. The firm had revenue of C$537.25 million for the quarter. SSR Mining had a negative return on equity of 15.34% and a negative net margin of 44.13%. On average, equities analysts forecast that SSR Mining Inc. will post 0.8051668 EPS for the current year.

SSR Mining Company Profile

SSR Mining Inc is an intermediate gold company with assets located in four jurisdictions: the USA, Türkiye, Canada, and Argentina. These assets are located within several of the world’s most prolific precious metal districts including the Çöpler mine along the Tethyan belt in Türkiye; the Marigold mine along the Battle Mountain-Eureka trend in Nevada, USA; the CC&V mine in the Cripple Creek Mining District of Colorado, USA; the Seabee mine along the Trans-Hudson Corridor in Saskatchewan, Canada; and the Puna mine along the Bolivian silver belt in Jujuy, Argentina.