Investors Buy High Volume of Put Options on SSR Mining (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) was the recipient of some unusual options trading activity on Monday. Investors acquired 5,521 put options on the company. This is an increase of 455% compared to the typical daily volume of 994 put options.

SSR Mining Stock Performance

Shares of SSRM opened at $5.80 on Wednesday. The business’s fifty day moving average price is $5.86 and its 200 day moving average price is $5.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. SSR Mining has a 12-month low of $3.76 and a 12-month high of $12.04. The stock has a market capitalization of $1.17 billion, a PE ratio of -2.43, a price-to-earnings-growth ratio of 0.86 and a beta of 0.72.

Institutional Investors Weigh In On SSR Mining

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in SSR Mining by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock worth $37,034,000 after acquiring an additional 533,880 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of SSR Mining by 45.9% in 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 acquiring an additional 2,587,212 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of SSR Mining by 16.2% during the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after purchasing an additional 462,000 shares in the last quarter. National Bank of Canada FI grew its holdings in SSR Mining by 3.8% during the third quarter. National Bank of Canada FI now owns 2,737,848 shares of the basic materials company’s stock valued at $15,551,000 after purchasing an additional 100,946 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in SSR Mining in the 1st quarter valued at approximately $6,485,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group increased their target price on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.01.

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.