StockNews.com Upgrades SSR Mining (NASDAQ:SSRM) to Hold

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

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

SSR Mining Stock Performance

SSRM stock opened at $7.49 on Thursday. The firm has a 50-day simple moving average of $6.43 and a two-hundred day simple moving average of $5.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. SSR Mining has a one year low of $3.76 and a one year high of $10.63. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -3.13, a PEG ratio of 1.23 and a beta of 0.61.

Hedge Funds Weigh In On SSR Mining

Several hedge funds and other institutional investors have recently modified their holdings of SSRM. D. E. Shaw & Co. Inc. increased its stake in 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 purchasing an additional 2,587,212 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of SSR Mining in the 2nd quarter valued at $3,289,000. Acadian Asset Management LLC raised its stake in SSR Mining by 111.3% in 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 acquiring an additional 637,161 shares during the last quarter. Two Sigma Advisers LP lifted its position 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 worth $18,860,000 after acquiring an additional 462,000 shares during the period. Finally, Paragon Capital Management Inc. purchased a new stake in SSR Mining during the 2nd quarter valued at about $1,672,000. 68.30% of the stock is 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.