SSR Mining (SSRM) Receives a Rating Update from a Top Analyst


Canaccord Genuity analyst Dalton Baretto reiterated a Buy rating on SSR Mining (SSRM) yesterday and set a price target of C$25.00. The company’s shares closed last Thursday at $17.37.

According to TipRanks.com, Baretto is a top 100 analyst with an average return of 34.2% and a 62.6% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Hecla Mining Company.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for SSR Mining with a $22.16 average price target, implying a 34.0% upside from current levels. In a report issued on April 27, J.P. Morgan also maintained a Buy rating on the stock with a C$23.00 price target.

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Based on SSR Mining’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $371 million and net profit of $89.04 million. In comparison, last year the company earned revenue of $178 million and had a net profit of $19.48 million.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SSRM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

SSR Mining, Inc. engages in the operation, development, exploration, and acquisition of precious metal projects. It focuses on the Puna, Marigold Mines, and Seabee Gold Operations. The company was founded on December 11, 1946 is headquartered in Vancouver, Canada.

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