SSR Mining (NASDAQ:SSRM) Stock Price Down 4.3%

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s stock price traded down 4.3% on Wednesday . The company traded as low as $5.16 and last traded at $5.18. 323,389 shares changed hands during trading, a decline of 92% from the average session volume of 3,942,867 shares. The stock had previously closed at $5.41.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group dropped their target price on shares of SSR Mining from $6.50 to $6.30 and set a “buy” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Finally, CIBC increased their price objective 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.89.

SSR Mining Stock Performance

The business’s 50-day moving average price is $5.01 and its 200-day moving average price is $4.96. The company has a current ratio of 3.54, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.05 billion, a PE ratio of -2.51, a P/E/G ratio of 0.54 and a beta of 0.71.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. SSR Mining had a negative net margin of 39.15% and a positive return on equity of 5.01%. The firm had revenue of $184.84 million for the quarter. As a group, equities research analysts expect that SSR Mining Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SSRM. Creekmur Asset Management LLC acquired a new stake in SSR Mining in the 4th quarter worth approximately $40,000. Principal Financial Group Inc. boosted its stake in SSR Mining by 23.3% in the 2nd quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company’s stock worth $90,000 after purchasing an additional 3,760 shares in the last quarter. CWM LLC boosted 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 worth $27,000 after purchasing an additional 3,926 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SSR Mining by 10.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,750 shares of the basic materials company’s stock worth $504,000 after purchasing an additional 4,502 shares in the last quarter. Finally, Quarry LP boosted 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 worth $47,000 after purchasing an additional 5,649 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.