SSR Mining (NASDAQ:SSRM) Rating Increased to Hold at StockNews.com

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, UBS Group upped their price target on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.18.

SSR Mining Stock Performance

NASDAQ SSRM opened at $7.69 on Friday. 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 twelve month low of $3.76 and a twelve month high of $10.10. The business has a 50-day moving average price of $6.62 and a 200-day moving average price of $5.86. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -3.22 and a beta of 0.61.

Institutional Investors Weigh In On SSR Mining

A number of hedge funds have recently made changes to their positions in SSRM. D. E. Shaw & Co. Inc. increased its position in SSR Mining by 45.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock worth $37,124,000 after purchasing an additional 2,587,212 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of SSR Mining in the 2nd quarter valued at about $3,289,000. Two Sigma Advisers LP grew its position in SSR Mining by 16.2% in the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after acquiring an additional 462,000 shares in the last quarter. Paragon Capital Management Inc. bought a new stake in SSR Mining during the second quarter worth approximately $1,672,000. Finally, Public Employees Retirement System of Ohio raised its position in SSR Mining by 399.1% during the third quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock valued at $2,455,000 after purchasing an additional 345,568 shares during the period. 68.30% of the stock is currently owned by hedge funds and other 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.