SSR Mining Inc. (NASDAQ:SSRM) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have been given a consensus recommendation of “Hold” by the six research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $5.18.

A number of equities research analysts have recently weighed in on SSRM shares. StockNews.com lowered SSR Mining from a “hold” rating to a “sell” rating in a research report on Wednesday. UBS Group upped their price target on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research note on Tuesday, October 15th.

SSR Mining Price Performance

SSRM opened at $7.18 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. SSR Mining has a 1 year low of $3.76 and a 1 year high of $10.70. The stock’s 50 day simple moving average is $6.38 and its 200 day simple moving average is $5.67. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -3.00, a PEG ratio of 1.23 and a beta of 0.69.

Institutional Investors Weigh In On SSR Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in SSR Mining in the 2nd quarter worth approximately $32,000. Point72 DIFC Ltd purchased a new stake in shares of SSR Mining in the third quarter worth approximately $47,000. SeaCrest Wealth Management LLC bought a new stake in SSR Mining during the 3rd quarter valued at about $57,000. Quarry LP lifted 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 buying an additional 5,649 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of SSR Mining in the 3rd quarter valued at about $60,000. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

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.