Brokerages Set SSR Mining Inc. (NASDAQ:SSRM) Target Price at $5.18

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned an average recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $5.18.

Several analysts have weighed in on SSRM shares. UBS Group raised their price target on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com cut SSR Mining from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

SSR Mining Stock Performance

NASDAQ:SSRM opened at $6.35 on Wednesday. The business’s 50-day moving average price is $5.88 and its two-hundred day moving average price is $5.40. SSR Mining has a twelve month low of $3.76 and a twelve month high of $11.52. The stock has a market cap of $1.29 billion, a P/E ratio of -2.66, a PEG ratio of 0.99 and a beta of 0.69. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On SSR Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 worth $37,034,000 after buying an additional 533,880 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of 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 buying an additional 2,587,212 shares during the period. Two Sigma Advisers LP increased its holdings in shares of 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 buying an additional 462,000 shares during the period. Tidal Investments LLC increased its holdings in shares of SSR Mining by 6.4% in the third quarter. Tidal Investments LLC now owns 2,766,447 shares of the basic materials company’s stock worth $15,713,000 after buying an additional 166,130 shares during the period. Finally, National Bank of Canada FI increased its holdings in shares of SSR Mining by 3.8% in the third quarter. National Bank of Canada FI now owns 2,737,848 shares of the basic materials company’s stock worth $15,551,000 after buying an additional 100,946 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.