SSR Mining (NASDAQ:SSRM) Trading Up 3.7%

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s stock price was up 3.7% during trading on Friday . The stock traded as high as $5.36 and last traded at $5.33. Approximately 1,168,139 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 4,743,107 shares. The stock had previously closed at $5.14.

Analyst Ratings Changes

Several research analysts recently commented on SSRM shares. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th. TD Securities cut SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. TheStreet lowered SSR Mining from a “c” rating to a “d” rating in a report on Wednesday, February 28th. Desjardins lowered SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, UBS Group lowered SSR Mining from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $5.00 in a report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, SSR Mining currently has an average rating of “Hold” and an average target price of $6.63.

SSR Mining Stock Performance

The stock has a market capitalization of $1.09 billion, a P/E ratio of -10.08, a price-to-earnings-growth ratio of 1.32 and a beta of 0.82. The company has a fifty day moving average of $4.74 and a two-hundred day moving average of $9.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.36 by $0.23. The company had revenue of $425.90 million during the quarter. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. During the same period last year, the company posted $0.12 earnings per share. On average, equities analysts anticipate that SSR Mining Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On SSR Mining

Several institutional investors have recently made changes to their positions in SSRM. American Century Companies Inc. increased its position in SSR Mining by 321.9% in the 3rd quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock valued at $8,599,000 after acquiring an additional 493,695 shares during the period. Scotia Capital Inc. grew its stake in shares of SSR Mining by 210.5% in the third quarter. Scotia Capital Inc. now owns 351,768 shares of the basic materials company’s stock worth $4,660,000 after purchasing an additional 238,481 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of SSR Mining during the fourth quarter valued at $50,352,000. Hsbc Holdings PLC bought a new stake in shares of SSR Mining during the third quarter valued at about $259,000. Finally, U S Global Investors Inc. acquired a new stake in SSR Mining in the fourth quarter worth about $3,405,000. 68.30% of the stock is owned by institutional investors.

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.