SSR Mining (NASDAQ:SSRM) Upgraded by Royal Bank of Canada to Sector Perform Rating

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was upgraded by investment analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a $8.00 price objective on the basic materials company’s stock, up from their previous price objective of $5.50. Royal Bank of Canada’s target price points to a potential downside of 2.32% from the company’s current price.

SSRM has been the topic of several other reports. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. UBS Group upped their target price on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.85.

SSR Mining Trading Up 1.9 %

SSRM opened at $8.19 on Wednesday. SSR Mining has a one year low of $3.76 and a one year high of $9.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -3.43 and a beta of 0.62. The stock’s 50 day moving average price is $7.20 and its 200-day moving average price is $6.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in SSR Mining during the 3rd quarter worth about $47,000. SeaCrest Wealth Management LLC bought a new position in shares of SSR Mining during the third quarter worth about $57,000. Allspring Global Investments Holdings LLC bought a new position in shares of SSR Mining during the third quarter worth about $60,000. Diversified Trust Co acquired a new stake in SSR Mining in the 3rd quarter valued at approximately $70,000. Finally, Lincoln Capital LLC bought a new stake in SSR Mining in the 4th quarter valued at approximately $70,000. 68.30% of the stock is owned by institutional investors and hedge funds.

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.