SSR Mining (NASDAQ:SSRM) Shares Up 3.6% – Still a Buy?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) rose 3.6% on Tuesday . The company traded as high as $6.60 and last traded at $6.58. Approximately 276,938 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 3,515,715 shares. The stock had previously closed at $6.35.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SSRM shares. CIBC boosted their target price on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. UBS Group lifted their price target on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.01.

SSR Mining Stock Down 1.3 %

The firm has a fifty day simple moving average of $5.72 and a 200 day simple moving average of $5.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 3.54. The company has a market cap of $1.28 billion, a PE ratio of -2.66, a PEG ratio of 0.91 and a beta of 0.73.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. SSR Mining had a negative net margin of 39.15% and a positive return on equity of 5.01%. The firm had revenue of $184.84 million during the quarter. Equities research analysts predict that SSR Mining Inc. will post 0.38 EPS for the current year.

Institutional Trading of SSR Mining

Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in SSR Mining by 5.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock valued at $16,003,000 after acquiring an additional 191,409 shares during the last quarter. Capstone Investment Advisors LLC lifted its stake in shares of SSR Mining by 207.6% in the 1st quarter. Capstone Investment Advisors LLC now owns 54,992 shares of the basic materials company’s stock valued at $245,000 after purchasing an additional 37,114 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of SSR Mining by 185.6% during the 1st quarter. GSA Capital Partners LLP now owns 351,496 shares of the basic materials company’s stock worth $1,568,000 after purchasing an additional 228,413 shares during the period. Duality Advisers LP increased its position in SSR Mining by 239.1% during the 1st quarter. Duality Advisers LP now owns 264,975 shares of the basic materials company’s stock worth $1,182,000 after purchasing an additional 186,829 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in SSR Mining by 75.1% during the 1st quarter. Quantbot Technologies LP now owns 432,287 shares of the basic materials company’s stock worth $1,928,000 after purchasing an additional 185,352 shares in the last quarter. 68.30% of the stock is owned by hedge funds and other 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.