SSR Mining Inc. (NASDAQ:SSRM) Receives $5.18 Consensus PT from Analysts

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $5.18.

A number of brokerages have recently weighed in on SSRM. StockNews.com cut SSR Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. UBS Group increased their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th.

SSR Mining Stock Performance

NASDAQ SSRM opened at $6.35 on Wednesday. The business has a 50 day moving average price of $5.88 and a 200 day moving average price of $5.40. The company has a market capitalization of $1.29 billion, a P/E ratio of -2.66, a PEG ratio of 0.99 and a beta of 0.69. SSR Mining has a 1-year low of $3.76 and a 1-year high of $11.52. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97.

Hedge Funds Weigh In On SSR Mining

Institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC boosted its stake in shares of SSR Mining by 24.8% during the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 2,619 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of SSR Mining by 9.8% during the 3rd quarter. Quantinno Capital Management LP now owns 31,107 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 2,788 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of SSR Mining by 23.3% during the second quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company’s stock worth $90,000 after buying an additional 3,760 shares in the last quarter. Quarry LP grew its holdings in shares of SSR Mining by 119.7% during the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after buying an additional 5,649 shares in the last quarter. Finally, Cadence Wealth Management LLC raised its position in shares of SSR Mining by 17.1% in the second quarter. Cadence Wealth Management LLC now owns 47,068 shares of the basic materials company’s stock valued at $213,000 after buying an additional 6,860 shares during the last quarter. 68.30% of the stock is 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.