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

StockNews.com upgraded shares of SSR Mining (NASDAQ:SSRM - Free Report) TSE: SSO from a sell rating to a hold rating in a research report released on Thursday.

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

SSR Mining Stock Up 4.9 %

SSRM traded up $0.35 during trading on Thursday, reaching $7.49. The company had a trading volume of 2,875,966 shares, compared to its average volume of 2,915,969. The company has a market cap of $1.52 billion, a P/E ratio of -3.13, a PEG ratio of 1.23 and a beta of 0.61. SSR Mining has a 12 month low of $3.76 and a 12 month high of $10.63. 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's fifty day moving average price is $6.45 and its 200 day moving average price is $5.75.

Institutional Investors Weigh In On SSR Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in shares of SSR Mining by 62.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 779,778 shares of the basic materials company's stock worth $3,517,000 after purchasing an additional 298,898 shares in the last quarter. Principal Financial Group Inc. lifted 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 valued at $90,000 after acquiring an additional 3,760 shares during the last quarter. Rhumbline Advisers grew its position in shares of SSR Mining by 76.3% in the 2nd quarter. Rhumbline Advisers now owns 323,311 shares of the basic materials company's stock valued at $1,458,000 after acquiring an additional 139,944 shares during the period. Acadian Asset Management LLC increased its stake in shares of SSR Mining by 111.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,209,763 shares of the basic materials company's stock worth $5,440,000 after purchasing an additional 637,161 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of SSR Mining by 282.8% in the 2nd quarter. Headlands Technologies LLC now owns 182,195 shares of the basic materials company's stock valued at $822,000 after purchasing an additional 134,597 shares during the period. 68.30% of the stock is currently owned by institutional investors and hedge funds.

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.