Brokerages Set SSR Mining Inc. (NASDAQ:SSRM) Price Target at $5.18

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has received an average recommendation of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $5.18.

Several research firms have recently commented on SSRM. UBS Group increased their target price on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com downgraded shares of SSR Mining from a “hold” rating to a “sell” rating in a research note on Wednesday.

Hedge Funds Weigh In On SSR Mining

Large investors have recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. raised its holdings in shares of SSR Mining by 45.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock worth $37,124,000 after purchasing an additional 2,587,212 shares during the period. National Bank of Canada FI grew its position in shares of SSR Mining by 73.7% during the 2nd 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 buying an additional 1,118,417 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of SSR Mining during the 2nd quarter valued at about $3,289,000. Acadian Asset Management LLC raised its stake in SSR Mining by 111.3% during the second quarter. Acadian Asset Management LLC now owns 1,209,763 shares of the basic materials company’s stock worth $5,440,000 after acquiring an additional 637,161 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in SSR Mining by 16.2% in the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after acquiring an additional 462,000 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors.

SSR Mining Trading Down 0.8 %

Shares of SSRM opened at $7.12 on Friday. SSR Mining has a one year low of $3.76 and a one year high of $10.66. The stock has a 50-day moving average price of $6.39 and a 200 day moving average price of $5.68. 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 company has a market capitalization of $1.44 billion, a P/E ratio of -2.98, a P/E/G ratio of 1.23 and a beta of 0.61.

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.