SSR Mining (NASDAQ:SSRM) Shares Down 3.8% – Here’s What Happened

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) shares traded down 3.8% on Friday . The company traded as low as $7.37 and last traded at $7.37. 155,984 shares traded hands during trading, a decline of 95% from the average session volume of 3,368,885 shares. The stock had previously closed at $7.66.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a report on Friday. 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.18.

SSR Mining Stock Down 2.9 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. The company has a market cap of $1.51 billion, a P/E ratio of -3.11, a PEG ratio of 1.34 and a beta of 0.69. The stock has a 50-day moving average of $6.06 and a 200 day moving average of $5.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SSRM. Point72 Asia Singapore Pte. Ltd. bought a new position in SSR Mining in the second quarter valued at about $32,000. Quarry LP grew its position in SSR Mining by 119.7% in the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 5,649 shares during the last quarter. Point72 DIFC Ltd bought a new position in SSR Mining in the third quarter valued at about $47,000. HB Wealth Management LLC bought a new position in SSR Mining in the second quarter valued at about $56,000. Finally, SeaCrest Wealth Management LLC bought a new position in SSR Mining in the third quarter valued at about $57,000. Institutional investors 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.