SSR Mining (NASDAQ:SSRM) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a sell rating in a research report released on Wednesday morning.

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

SSR Mining Price Performance

Shares of SSRM opened at $7.12 on Wednesday. SSR Mining has a fifty-two week low of $3.76 and a fifty-two week high of $10.66. The company’s 50-day moving average is $6.39 and its 200-day moving average is $5.68. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. The firm has a market capitalization of $1.44 billion, a PE ratio of -2.98, a PEG ratio of 1.23 and a beta of 0.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SSRM. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SSR Mining in the second quarter valued at about $32,000. Quarry LP lifted its position in shares of SSR Mining by 119.7% during the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 5,649 shares during the period. Point72 DIFC Ltd acquired a new stake in SSR Mining in the third quarter worth $47,000. SeaCrest Wealth Management LLC bought a new stake in SSR Mining in the third quarter valued at $57,000. Finally, Xponance Inc. bought a new position in shares of SSR Mining during the 2nd quarter worth about $58,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

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.