SSR Mining Sees Unusually Large Options Volume (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) saw some unusual options trading activity on Wednesday. Stock traders acquired 3,772 put options on the stock. This represents an increase of approximately 110% compared to the average daily volume of 1,800 put options.

SSR Mining Stock Up 0.1 %

Shares of SSRM opened at $10.00 on Thursday. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. SSR Mining has a 12 month low of $4.32 and a 12 month high of $11.48. The stock has a market capitalization of $2.02 billion, a PE ratio of -7.75, a P/E/G ratio of 0.37 and a beta of 0.53. The firm’s 50 day moving average is $9.73 and its 200-day moving average is $7.56.

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

Analyst Ratings Changes

Several equities research analysts recently commented on SSRM shares. CIBC boosted their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. National Bank Financial raised SSR Mining to a “hold” rating in a research report on Friday, March 21st. UBS Group boosted their price objective on shares of SSR Mining from $7.15 to $12.05 and gave the stock 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 price objective for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Finally, StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.93.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. US Bancorp DE grew its position 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 acquiring an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in SSR Mining during the 4th quarter worth approximately $29,000. Allianz SE bought a new position in shares of SSR Mining during the fourth quarter valued at $30,000. Point72 DIFC Ltd acquired a new position in shares of SSR Mining during the third quarter worth $47,000. Finally, Lincoln Capital LLC acquired a new position in shares of SSR Mining during the fourth quarter worth $70,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

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.