SSR Mining Inc. (NASDAQ:SSRM) Receives $5.18 Average Price Target from Brokerages

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have earned an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.18.

SSRM has been the subject of several recent research reports. UBS Group lifted their price objective on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th.

Hedge Funds Weigh In On SSR Mining

Several large investors have recently added to or reduced their stakes in SSRM. D. E. Shaw & Co. Inc. increased its stake in SSR Mining by 45.9% during 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 acquiring an additional 2,587,212 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of SSR Mining by 22.1% in the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after buying an additional 674,793 shares in the last quarter. Two Sigma Advisers LP grew its stake in SSR Mining by 16.2% during the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after purchasing an additional 462,000 shares in the last quarter. Tidal Investments LLC grew its stake in SSR Mining by 6.4% during the 3rd quarter. Tidal Investments LLC now owns 2,766,447 shares of the basic materials company’s stock valued at $15,713,000 after purchasing an additional 166,130 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in SSR Mining by 3.8% during the 3rd quarter. National Bank of Canada FI now owns 2,737,848 shares of the basic materials company’s stock valued at $15,551,000 after purchasing an additional 100,946 shares in the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $8.02 on Thursday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -3.36 and a beta of 0.61. 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 firm’s 50 day simple moving average is $6.90 and its 200-day simple moving average is $6.00. SSR Mining has a 12 month low of $3.76 and a 12 month high of $9.85.

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.