SSR Mining (NASDAQ:SSRM) Shares Gap Down – Should You Sell?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $5.91, but opened at $5.73. SSR Mining shares last traded at $5.79, with a volume of 121,341 shares traded.

Analyst Ratings Changes

Separately, UBS Group increased their target price on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.18.

SSR Mining Stock Performance

The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $5.37.

Institutional Investors Weigh In On SSR Mining

Large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new position in SSR Mining in the 2nd quarter worth approximately $3,289,000. National Bank of Canada FI lifted its position in SSR Mining by 73.7% during the second quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after purchasing an additional 1,118,417 shares during the period. Mackenzie Financial Corp boosted its holdings in SSR Mining by 25.5% in the second quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company’s stock valued at $3,992,000 after purchasing an additional 179,601 shares during the last quarter. Paragon Capital Management Inc. acquired a new stake in SSR Mining during the 2nd quarter worth about $1,672,000. Finally, Tidal Investments LLC acquired a new stake in SSR Mining during the 1st quarter worth about $6,485,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

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.