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

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have received a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $5.18.

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

Institutional Trading of SSR Mining

Several hedge funds have recently modified their holdings of SSRM. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SSR Mining in the 2nd quarter valued at $32,000. Quarry LP increased its holdings 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 valued at $47,000 after purchasing an additional 5,649 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of SSR Mining in the third quarter valued at about $47,000. HB Wealth Management LLC acquired a new position in SSR Mining during the 2nd quarter worth approximately $56,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of SSR Mining during the 3rd quarter worth $57,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Stock Up 3.2 %

NASDAQ:SSRM opened at $7.18 on Friday. The firm has a market capitalization of $1.45 billion, a P/E ratio of -3.00, a PEG ratio of 1.23 and a beta of 0.69. The company’s fifty day moving average price is $6.38 and its 200-day moving average price is $5.67. 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.

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.