SSR Mining (NASDAQ:SSRM) Shares Down 9.2%

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s share price traded down 9.2% during mid-day trading on Thursday . The stock traded as low as $5.00 and last traded at $5.06. 780,162 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 4,136,368 shares. The stock had previously closed at $5.57.

Analyst Upgrades and Downgrades

SSRM has been the subject of several research analyst reports. CIBC upped their price objective on shares of SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Finally, National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.56.

SSR Mining Price Performance

The stock has a market capitalization of $1.00 billion, a PE ratio of -2.48, a PEG ratio of 0.57 and a beta of 0.72. The company has a current ratio of 3.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.08. The company’s 50 day simple moving average is $5.01 and its 200 day simple moving average is $5.61.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.13. The firm had revenue of $230.23 million for the quarter. SSR Mining had a negative net margin of 30.90% and a positive return on equity of 6.37%. On average, equities analysts anticipate that SSR Mining Inc. will post 0.54 earnings per share for the current year.

Hedge Funds Weigh In On SSR Mining

A number of institutional investors have recently made changes to their positions in the business. CWM LLC grew its holdings in SSR Mining by 178.5% during the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 3,926 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in SSR Mining in the fourth quarter worth about $40,000. Abich Financial Wealth Management LLC acquired a new stake in SSR Mining during the first quarter valued at approximately $41,000. HB Wealth Management LLC bought a new position in SSR Mining during the 2nd quarter worth approximately $56,000. Finally, Simplicity Wealth LLC acquired a new position in shares of SSR Mining in the 1st quarter worth approximately $72,000. 68.30% of the stock is owned by institutional investors and hedge funds.

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.