SSR Mining (NASDAQ:SSRM) Shares Gap Down to $5.34

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) gapped down prior to trading on Monday . The stock had previously closed at $5.34, but opened at $5.13. SSR Mining shares last traded at $5.24, with a volume of 1,195,085 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SSRM. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. TD Securities downgraded shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Scotiabank lowered shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. Desjardins lowered shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $3.00 target price (down from $6.00) on shares of SSR Mining in a research report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.63.

SSR Mining Price Performance

The stock has a market cap of $1.08 billion, a PE ratio of -10.52, a P/E/G ratio of 0.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99. The firm’s 50 day moving average price is $4.59 and its two-hundred day moving average price is $8.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. The business had revenue of $425.90 million for the quarter. During the same period in the previous year, the firm earned $0.12 EPS. On average, research analysts expect that SSR Mining Inc. will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc bought a new position in shares of SSR Mining in the third quarter valued at approximately $221,000. SG Americas Securities LLC purchased a new position in shares of SSR Mining during the 3rd quarter valued at $262,000. Oak Thistle LLC bought a new position in shares of SSR Mining in the third quarter worth $485,000. Cambridge Investment Research Advisors Inc. raised its position in shares of SSR Mining by 6.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 32,911 shares of the basic materials company’s stock worth $437,000 after buying an additional 1,970 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SSR Mining by 13.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,248 shares of the basic materials company’s stock valued at $564,000 after buying an additional 5,033 shares during the period. Institutional investors own 68.30% of the company’s stock.

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.