StockNews.com Downgrades SSR Mining (NASDAQ:SSRM) to Sell

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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

SSR Mining Price Performance

Shares of NASDAQ SSRM traded up $0.06 during mid-day trading on Wednesday, hitting $5.76. 1,047,481 shares of the stock were exchanged, compared to its average volume of 3,418,357. The company has a market cap of $1.17 billion, a P/E ratio of -2.41, a PEG ratio of 0.95 and a beta of 0.72. The stock’s fifty day simple moving average is $5.88 and its two-hundred day simple moving average is $5.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. SSR Mining has a twelve month low of $3.76 and a twelve month high of $12.04.

Hedge Funds Weigh In On SSR Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SSR Mining during the second quarter worth $32,000. Point72 DIFC Ltd bought a new position in shares of SSR Mining during the third quarter worth $47,000. Abich Financial Wealth Management LLC bought a new position in shares of SSR Mining during the first quarter worth $41,000. SeaCrest Wealth Management LLC bought a new position in shares of SSR Mining during the third quarter worth $57,000. Finally, Quarry LP boosted its position 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 purchasing an additional 5,649 shares in the last quarter. 68.30% of the stock is owned by institutional investors.

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.