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

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

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

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $7.49 on Thursday. The business has a fifty day simple moving average of $6.48 and a 200 day simple moving average of $5.76. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. SSR Mining has a 1 year low of $3.76 and a 1 year high of $10.63. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -3.13, a P/E/G ratio of 1.23 and a beta of 0.61.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SSRM. Hsbc Holdings PLC bought a new stake in SSR Mining during the second quarter worth approximately $3,289,000. Two Sigma Advisers LP boosted 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 worth $18,860,000 after buying an additional 462,000 shares during the period. Mackenzie Financial Corp grew its stake in SSR Mining by 25.5% in the 2nd quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company’s stock valued at $3,992,000 after buying an additional 179,601 shares during the last quarter. Franklin Resources Inc. raised its holdings in SSR Mining by 649.6% in the 3rd 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. Finally, Verition Fund Management LLC lifted its position in SSR Mining by 177.5% during the 3rd quarter. Verition Fund Management LLC now owns 105,763 shares of the basic materials company’s stock worth $601,000 after acquiring an additional 67,657 shares during the last quarter. Institutional investors and hedge funds 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.