SSR Mining (NASDAQ:SSRM) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a sell rating to a hold rating in a report released on Thursday morning.

Separately, UBS Group lifted their target price on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, SSR Mining currently has an average rating of “Hold” and an average target price of $5.18.

SSR Mining Stock Performance

SSRM opened at $7.49 on Thursday. SSR Mining has a 1-year low of $3.76 and a 1-year high of $10.63. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.13, a price-to-earnings-growth ratio of 1.23 and a beta of 0.61. The business has a 50 day moving average price of $6.48 and a two-hundred day moving average price of $5.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SSRM. D. E. Shaw & Co. Inc. boosted its stake in SSR Mining by 45.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock worth $37,124,000 after purchasing an additional 2,587,212 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of SSR Mining in the second quarter worth $3,289,000. Acadian Asset Management LLC grew its holdings in shares of SSR Mining by 111.3% during the second quarter. Acadian Asset Management LLC now owns 1,209,763 shares of the basic materials company’s stock valued at $5,440,000 after buying an additional 637,161 shares in the last quarter. Two Sigma Advisers LP raised its position in SSR Mining by 16.2% during the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after buying an additional 462,000 shares during the period. Finally, Paragon Capital Management Inc. purchased a new stake in SSR Mining in the 2nd quarter worth about $1,672,000. 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.