SSR Mining (NASDAQ:SSRM) Raised to "Hold" at StockNews.com

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Separately, UBS Group lifted their price objective on SSR Mining from $6.30 to $6.80 and gave the stock a "buy" rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.18.

SSR Mining Stock Performance

NASDAQ SSRM traded down $0.22 during trading hours on Friday, reaching $7.44. 3,450,180 shares of the company were exchanged, compared to its average volume of 3,382,683. The stock has a market capitalization of $1.51 billion, a P/E ratio of -3.11, a P/E/G ratio of 1.34 and a beta of 0.69. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08. SSR Mining has a 1 year low of $3.76 and a 1 year high of $11.35. The business's 50 day simple moving average is $6.03 and its 200-day simple moving average is $5.46.

Hedge Funds Weigh In On SSR Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SSR Mining in the 2nd quarter worth about $32,000. Quarry LP increased its stake in 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 purchasing an additional 5,649 shares in the last quarter. Point72 DIFC Ltd purchased a new position in SSR Mining in the third quarter worth about $47,000. HB Wealth Management LLC bought a new position in shares of SSR Mining in the second quarter worth approximately $56,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of SSR Mining during the third quarter valued at approximately $57,000. 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.

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