SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO was upgraded by research analysts at Royal Bank of Canada from an "underperform" rating to a "sector perform" rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $8.00 target price on the basic materials company's stock, up from their previous target price of $5.50. Royal Bank of Canada's price target would suggest a potential downside of 11.21% from the stock's previous close.
Other analysts have also recently issued reports about the company. StockNews.com raised SSR Mining from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. UBS Group increased their price target on SSR Mining from $6.30 to $6.80 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.85.
Check Out Our Latest Analysis on SSRM
SSR Mining Stock Performance
Shares of NASDAQ:SSRM traded down $0.11 on Wednesday, reaching $9.01. The company's stock had a trading volume of 2,835,769 shares, compared to its average volume of 2,395,336. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. SSR Mining has a 52-week low of $3.76 and a 52-week high of $9.82. The stock's 50-day moving average is $7.39 and its two-hundred day moving average is $6.21. The stock has a market capitalization of $1.82 billion, a P/E ratio of -3.77 and a beta of 0.62.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of SSRM. US Bancorp DE raised its holdings in SSR Mining by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in SSR Mining in the fourth quarter valued at approximately $29,000. Point72 DIFC Ltd acquired a new stake in shares of SSR Mining during the third quarter valued at about $47,000. SeaCrest Wealth Management LLC purchased a new position in shares of SSR Mining during the 3rd quarter valued at approximately $57,000. Finally, Allspring Global Investments Holdings LLC bought a new position in SSR Mining during the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 68.30% of the company's stock.
SSR Mining Company Profile
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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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