SSR Mining (NASDAQ:SSRM) Rating Lowered to “Sell” at StockNews.com

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Separately, UBS Group boosted their target price on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, SSR Mining currently has a consensus rating of “Hold” and a consensus price target of $5.18.

SSR Mining Stock Performance

SSR Mining stock opened at $7.18 on Wednesday. The stock has a 50-day simple moving average of $6.38 and a 200 day simple moving average of $5.67. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -3.00, a P/E/G ratio of 1.23 and a beta of 0.69. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08. SSR Mining has a 12-month low of $3.76 and a 12-month high of $10.70.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SSRM. D. E. Shaw & Co. Inc. raised its stake in shares of SSR Mining by 45.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock worth $37,124,000 after buying an additional 2,587,212 shares during the last quarter. National Bank of Canada FI raised its position in shares of SSR Mining by 73.7% during the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after acquiring an additional 1,118,417 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of SSR Mining during the 2nd quarter valued at $3,289,000. Acadian Asset Management LLC lifted its stake in shares of SSR Mining by 111.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,209,763 shares of the basic materials company’s stock valued at $5,440,000 after purchasing an additional 637,161 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after purchasing an additional 462,000 shares during the last quarter. Institutional investors own 68.30% of the company’s stock.

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.