SSR Mining Sees Unusually Large Options Volume (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) was the target of some unusual options trading activity on Monday. Investors bought 5,521 put options on the stock. This represents an increase of 455% compared to the average daily volume of 994 put options.

SSR Mining Price Performance

NASDAQ:SSRM opened at $5.63 on Tuesday. 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 company has a 50 day moving average price of $5.85 and a 200-day moving average price of $5.35. SSR Mining has a 1-year low of $3.76 and a 1-year high of $12.04. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -2.35, a price-to-earnings-growth ratio of 0.86 and a beta of 0.72.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of SSR Mining by 6.9% in the first quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock valued at $37,034,000 after buying an additional 533,880 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of SSR Mining by 45.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock valued at $37,124,000 after buying an additional 2,587,212 shares in the last quarter. Two Sigma Advisers LP grew its stake in SSR Mining by 16.2% in 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 acquiring an additional 462,000 shares during the period. National Bank of Canada FI increased its holdings in SSR Mining by 3.8% in the 3rd quarter. National Bank of Canada FI now owns 2,737,848 shares of the basic materials company’s stock worth $15,551,000 after acquiring an additional 100,946 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in SSR Mining in the 1st quarter worth $6,485,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group boosted their target price on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, SSR Mining has an average rating of “Hold” and an average price target of $7.01.

SSR Mining Company Profile

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.