SSR Mining Inc. (NASDAQ:SSRM) Short Interest Down 18.8% in March

SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 6,250,000 shares, a drop of 18.8% from the February 28th total of 7,700,000 shares. Based on an average daily volume of 2,740,000 shares, the short-interest ratio is presently 2.3 days. Approximately 3.1% of the company's stock are sold short.

SSR Mining Stock Performance

Shares of NASDAQ:SSRM traded up $0.11 during trading on Thursday, hitting $10.11. The company's stock had a trading volume of 1,990,738 shares, compared to its average volume of 2,799,751. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -7.84, a P/E/G ratio of 0.37 and a beta of 0.53. The company has a 50-day moving average of $9.73 and a 200-day moving average of $7.56. SSR Mining has a 12 month low of $4.32 and a 12 month high of $11.48.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The business had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. On average, sell-side analysts expect that SSR Mining will post 0.73 earnings per share for the current year.

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Hedge Funds Weigh In On SSR Mining

Several institutional investors and hedge funds have recently bought and sold shares of SSRM. US Bancorp DE raised its stake in shares of SSR Mining by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock worth $25,000 after buying an additional 1,360 shares during the period. SBI Securities Co. Ltd. bought a new stake in SSR Mining during the 4th quarter worth approximately $29,000. Allianz SE bought a new stake in SSR Mining during the 4th quarter worth approximately $30,000. Point72 DIFC Ltd purchased a new position in SSR Mining during the third quarter valued at approximately $47,000. Finally, Lincoln Capital LLC purchased a new stake in shares of SSR Mining in the fourth quarter worth $70,000. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada raised SSR Mining from an "underperform" rating to a "sector perform" rating and increased their price objective for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. National Bank Financial raised shares of SSR Mining to a "hold" rating in a report on Friday, March 21st. UBS Group boosted their price objective on shares of SSR Mining from $7.15 to $12.05 and gave the company a "buy" rating in a report on Tuesday, February 18th. StockNews.com upgraded shares of SSR Mining from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. Finally, CIBC lifted their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.93.

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.