SSR Mining (NASDAQ:SSRM) Stock Price Up 4.9% – Here’s Why

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s share price shot up 4.9% during mid-day trading on Tuesday . The company traded as high as $5.99 and last traded at $5.98. 331,860 shares traded hands during trading, a decline of 90% from the average session volume of 3,382,196 shares. The stock had previously closed at $5.70.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of SSR Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. UBS Group upped 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, SSR Mining currently has an average rating of “Hold” and a consensus price target of $5.18.

SSR Mining Stock Up 5.6 %

The stock has a market capitalization of $1.22 billion, a PE ratio of -2.52, a price-to-earnings-growth ratio of 0.96 and a beta of 0.69. The company’s fifty day moving average price is $5.87 and its 200-day moving average price is $5.38. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in SSR Mining by 649.6% in the third quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock worth $847,000 after acquiring an additional 127,401 shares during the period. Tidal Investments LLC lifted its position in SSR Mining by 6.4% during the third quarter. Tidal Investments LLC now owns 2,766,447 shares of the basic materials company’s stock valued at $15,713,000 after purchasing an additional 166,130 shares in the last quarter. Virtu Financial LLC bought a new stake in SSR Mining during the third quarter valued at about $334,000. Barclays PLC raised its stake in shares of SSR Mining by 33.8% in the third quarter. Barclays PLC now owns 701,763 shares of the basic materials company’s stock worth $3,985,000 after buying an additional 177,447 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in shares of SSR Mining by 399.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock valued at $2,455,000 after buying an additional 345,568 shares in 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.