StockNews.com Downgrades SSR Mining (NASDAQ:SSRM) to Sell

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Separately, UBS Group upped their price objective 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 analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.18.

SSR Mining Stock Up 3.2 %

Shares of NASDAQ SSRM opened at $7.18 on Wednesday. SSR Mining has a 52-week low of $3.76 and a 52-week high of $10.70. 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 $1.45 billion, a P/E ratio of -3.00, a P/E/G ratio of 1.23 and a beta of 0.69. The firm has a 50 day moving average price of $6.38 and a 200 day moving average price of $5.67.

Institutional Trading of SSR Mining

Several hedge funds and other institutional investors have recently modified their holdings of SSRM. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of SSR Mining during the second quarter worth about $32,000. Quarry LP increased its stake in SSR Mining by 119.7% in the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after buying an additional 5,649 shares during the last quarter. Point72 DIFC Ltd bought a new stake in SSR Mining during the 3rd quarter worth about $47,000. SeaCrest Wealth Management LLC acquired a new position in shares of SSR Mining during the 3rd quarter worth about $57,000. Finally, Xponance Inc. bought a new position in shares of SSR Mining in the 2nd quarter valued at about $58,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

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.