SSR Mining Inc. (NASDAQ:SSRM) Receives $5.18 Average Target Price from Brokerages

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have received an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.18.

Several research analysts have commented on SSRM shares. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, December 13th. UBS Group increased their price target on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th.

SSR Mining Trading Up 1.5 %

Shares of SSR Mining stock opened at $6.96 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. The stock has a market capitalization of $1.41 billion, a PE ratio of -2.91, a P/E/G ratio of 1.23 and a beta of 0.69. SSR Mining has a 1-year low of $3.76 and a 1-year high of $10.81. The company’s fifty day simple moving average is $6.35 and its 200-day simple moving average is $5.65.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SSRM. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of SSR Mining during the second quarter valued at $32,000. Quarry LP boosted its position 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 period. Point72 DIFC Ltd purchased a new position in shares of SSR Mining during the third quarter worth approximately $47,000. HB Wealth Management LLC purchased a new position in shares of SSR Mining during the second quarter worth approximately $56,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of SSR Mining during the third quarter valued at approximately $57,000. 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.