SSR Mining Inc. (NASDAQ:SSRM) Receives Average Recommendation of "Hold" from Analysts

Shares of SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO have earned a consensus recommendation of "Hold" from the six research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.18.

Several equities analysts have weighed in on SSRM shares. StockNews.com upgraded SSR Mining from a "sell" rating to a "hold" rating in a report on Friday, December 13th. 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 report on Tuesday, October 15th.

SSR Mining Price Performance

Shares of SSR Mining stock traded up $0.07 during trading on Friday, reaching $7.06. 2,181,891 shares of the stock traded hands, compared to its average volume of 3,380,253. SSR Mining has a 52-week low of $3.76 and a 52-week high of $11.02. 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 business has a fifty day simple moving average of $6.33 and a two-hundred day simple moving average of $5.62. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -2.95, a P/E/G ratio of 1.23 and a beta of 0.69.

Institutional Investors Weigh In On SSR Mining

Several hedge funds and other institutional investors have recently made changes to their positions in SSRM. HighTower Advisors LLC raised its position in SSR Mining by 24.8% in the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company's stock worth $75,000 after purchasing an additional 2,619 shares during the period. Quantinno Capital Management LP boosted its holdings in SSR Mining by 9.8% during the 3rd quarter. Quantinno Capital Management LP now owns 31,107 shares of the basic materials company's stock valued at $177,000 after acquiring an additional 2,788 shares during the period. Principal Financial Group Inc. increased its stake in SSR Mining by 23.3% in the second quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company's stock worth $90,000 after purchasing an additional 3,760 shares during the period. Quarry LP increased its stake in SSR Mining by 119.7% in the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company's stock worth $47,000 after buying an additional 5,649 shares during the period. Finally, Cadence Wealth Management LLC raised its stake in shares of SSR Mining by 17.1% during the second quarter. Cadence Wealth Management LLC now owns 47,068 shares of the basic materials company's stock valued at $213,000 after acquiring an additional 6,860 shares in the last quarter. Hedge funds and other institutional investors 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.