StockNews.com Downgrades SSR Mining (NASDAQ:SSRM) to Sell

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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

SSR Mining Stock Up 1.1 %

Shares of NASDAQ SSRM traded up $0.06 during mid-day trading on Wednesday, reaching $5.76. The company had a trading volume of 1,047,481 shares, compared to its average volume of 3,418,357. SSR Mining has a twelve month low of $3.76 and a twelve month high of $12.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The stock has a market capitalization of $1.17 billion, a PE ratio of -2.41, a price-to-earnings-growth ratio of 0.95 and a beta of 0.72. The stock’s 50 day moving average is $5.88 and its 200-day moving average is $5.38.

Institutional Investors Weigh In On SSR Mining

Hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of SSR Mining in the second quarter valued at about $32,000. Abich Financial Wealth Management LLC bought a new stake in shares of SSR Mining in the first quarter valued at about $41,000. Quarry LP lifted its stake in shares of 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 buying an additional 5,649 shares during the period. Point72 DIFC Ltd bought a new stake in shares of SSR Mining in the third quarter valued at about $47,000. Finally, HB Wealth Management LLC bought a new stake in shares of SSR Mining in the second quarter valued at about $56,000. Institutional investors own 68.30% of the company’s stock.

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.