SSR Mining Inc. (NASDAQ:SSRM) Short Interest Update

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 6,250,000 shares, a drop of 18.8% from the February 28th total of 7,700,000 shares. Based on an average daily volume of 2,740,000 shares, the short-interest ratio is currently 2.3 days. Approximately 3.1% of the company’s shares are short sold.

Institutional Trading of SSR Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in SSR Mining by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company’s stock worth $72,216,000 after purchasing an additional 71,364 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in SSR Mining by 21.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company’s stock valued at $70,265,000 after buying an additional 1,802,821 shares in the last quarter. Cibc World Market Inc. increased its position in shares of SSR Mining by 22.1% during the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock worth $25,967,000 after acquiring an additional 674,793 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of SSR Mining by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company’s stock worth $25,551,000 after acquiring an additional 1,285,347 shares during the period. Finally, Two Sigma Advisers LP lifted its position in SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after acquiring an additional 462,000 shares in the last quarter. 68.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SSRM shares. National Bank Financial upgraded SSR Mining to a “hold” rating in a report on Friday, March 21st. CIBC increased their price target on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. UBS Group upped their price objective on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, SSR Mining presently has a consensus rating of “Hold” and a consensus price target of $9.93.

SSR Mining Price Performance

NASDAQ:SSRM traded up $0.11 during mid-day trading on Wednesday, hitting $10.10. The company’s stock had a trading volume of 1,046,437 shares, compared to its average volume of 2,802,724. SSR Mining has a fifty-two week low of $4.32 and a fifty-two week high of $11.48. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -7.83, a P/E/G ratio of 0.37 and a beta of 0.53. The stock has a fifty day moving average of $9.69 and a 200-day moving average of $7.54. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The business had revenue of $323.19 million for the quarter, compared to the consensus estimate of $262.20 million. As a group, equities analysts forecast that SSR Mining will post 0.73 EPS for the current fiscal year.

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.