SSR Mining (NASDAQ:SSRM) Trading Down 3.7%

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) shares fell 3.7% during trading on Monday . The company traded as low as $5.72 and last traded at $5.75. 390,663 shares traded hands during trading, a decline of 89% from the average session volume of 3,712,901 shares. The stock had previously closed at $5.97.

Analysts Set New Price Targets

Several analysts have commented on SSRM shares. CIBC upped their target price on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. UBS Group decreased their price objective on SSR Mining from $6.50 to $6.30 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.89.

SSR Mining Trading Down 5.0 %

The company’s fifty day simple moving average is $5.30 and its two-hundred day simple moving average is $5.09. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -2.77, a price-to-earnings-growth ratio of 0.66 and a beta of 0.73. The company has a quick ratio of 1.78, a current ratio of 3.54 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $184.84 million for the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. Research analysts forecast that SSR Mining Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in SSRM. Creekmur Asset Management LLC bought a new position in shares of SSR Mining during the fourth quarter worth about $40,000. Principal Financial Group Inc. lifted its holdings in SSR Mining by 23.3% during the 2nd quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company’s stock valued at $90,000 after purchasing an additional 3,760 shares during the last quarter. CWM LLC grew its stake in SSR Mining by 178.5% in the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after buying an additional 3,926 shares during the last quarter. Quarry LP grew its stake in SSR Mining by 119.7% in the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after buying an additional 5,649 shares during the last quarter. Finally, Oak Thistle LLC raised its holdings in SSR Mining by 20.0% in the 1st quarter. Oak Thistle LLC now owns 40,083 shares of the basic materials company’s stock valued at $179,000 after acquiring an additional 6,680 shares during the period. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Company Profile

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.