SSR Mining (NASDAQ:SSRM) Upgraded at StockNews.com

StockNews.com upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a sell rating to a hold rating in a research report report published on Friday morning.

Separately, UBS Group raised their price target on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, SSR Mining presently has a consensus rating of “Hold” and a consensus price target of $5.18.

SSR Mining Stock Performance

NASDAQ SSRM opened at $7.44 on Friday. The firm has a 50-day moving average of $6.06 and a 200-day moving average of $5.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The stock has a market cap of $1.51 billion, a PE ratio of -3.11, a P/E/G ratio of 1.23 and a beta of 0.69. SSR Mining has a 52-week low of $3.76 and a 52-week high of $11.35.

Hedge Funds Weigh In On SSR Mining

A number of hedge funds and other institutional investors have recently modified their holdings of SSRM. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SSR Mining during the 2nd quarter valued at $32,000. Point72 DIFC Ltd bought a new position in shares of SSR Mining during the third quarter valued at about $47,000. SeaCrest Wealth Management LLC bought a new position in shares of SSR Mining during the third quarter valued at approximately $57,000. Quarry LP increased its holdings in shares of SSR Mining by 119.7% in the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 5,649 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in SSR Mining in the third quarter worth approximately $60,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.