SSR Mining (NASDAQ:SSRM) Trading Up 3.9% – Here’s What Happened

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s stock price traded up 3.9% during mid-day trading on Thursday . The stock traded as high as $10.77 and last traded at $10.64. 911,446 shares traded hands during trading, a decline of 67% from the average session volume of 2,742,974 shares. The stock had previously closed at $10.24.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group raised their price target on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. CIBC raised their price target on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, SSR Mining has an average rating of “Hold” and an average target price of $9.93.

SSR Mining Price Performance

The business has a fifty day simple moving average of $8.87 and a 200-day simple moving average of $7.04. The stock has a market capitalization of $2.17 billion, a P/E ratio of -8.31, a PEG ratio of 0.37 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The firm had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. Sell-side analysts expect that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. US Bancorp DE increased its holdings in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 1,360 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SSR Mining in the fourth quarter valued at about $29,000. Allianz SE bought a new position in shares of SSR Mining during the fourth quarter valued at about $30,000. Point72 DIFC Ltd purchased a new position in SSR Mining during the third quarter worth about $47,000. Finally, Lincoln Capital LLC bought a new stake in SSR Mining in the 4th quarter worth about $70,000. 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.