SSR Mining (NASDAQ:SSRM) Raised to “Hold” at StockNews.com

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Separately, UBS Group raised their target price on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.18.

SSR Mining Stock Performance

SSRM opened at $7.44 on Friday. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. SSR Mining has a 12-month low of $3.76 and a 12-month high of $11.35. The firm has a 50 day moving average of $6.06 and a two-hundred day moving average of $5.47. The firm has a market capitalization of $1.51 billion, a PE ratio of -3.11, a P/E/G ratio of 1.34 and a beta of 0.69.

Hedge Funds Weigh In On SSR Mining

Several institutional investors have recently made changes to their positions in SSRM. Point72 Asia Singapore Pte. Ltd. purchased a new stake in SSR Mining during the second quarter worth $32,000. Quarry LP raised its position in shares of SSR Mining by 119.7% in the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 5,649 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of SSR Mining during the 3rd quarter worth about $47,000. HB Wealth Management LLC acquired a new stake in shares of SSR Mining during the 2nd quarter valued at about $56,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of SSR Mining in the 3rd quarter valued at about $57,000. 68.30% of the stock is 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.