SSR Mining (NASDAQ:SSRM) Sees Large Volume Increase - Time to Buy?

SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO saw an uptick in trading volume on Monday . 1,417,265 shares changed hands during mid-day trading, a decline of 48% from the previous session's volume of 2,716,259 shares.The stock last traded at $10.73 and had previously closed at $10.84.

Analyst Upgrades and Downgrades

SSRM has been the subject of several recent analyst reports. StockNews.com raised SSR Mining from a "sell" rating to a "hold" rating in a report on Friday, January 17th. National Bankshares reissued a "sector perform" rating on shares of SSR Mining in a research note on Wednesday. Cormark upgraded shares of SSR Mining from a "hold" rating to a "moderate buy" rating in a research report on Tuesday. National Bank Financial upgraded shares of SSR Mining to a "hold" rating in a research report on Friday, March 21st. Finally, UBS Group raised their price target on SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a research report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.03.

SSR Mining Trading Down 0.5 %

The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The stock's fifty day moving average price is $10.34 and its two-hundred day moving average price is $8.11. The stock has a market capitalization of $2.08 billion, a P/E ratio of -7.95, a price-to-earnings-growth ratio of 0.37 and a beta of 0.30.

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

Hedge Funds Weigh In On SSR Mining

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its stake in shares of SSR Mining by 62.4% during the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 1,360 shares during the period. SBI Securities Co. Ltd. bought a new stake in SSR Mining during the 4th quarter valued at $29,000. Allianz SE purchased a new stake in SSR Mining during the 4th quarter valued at $30,000. Lincoln Capital LLC bought a new stake in SSR Mining in the 4th quarter worth $70,000. Finally, HighTower Advisors LLC increased its position in shares of SSR Mining by 24.8% in the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company's stock valued at $75,000 after acquiring an additional 2,619 shares during the period. 68.30% of the stock is currently owned by institutional investors.

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.