SSR Mining (NASDAQ:SSRM) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of SSR Mining (NASDAQ:SSRMFree Report) (TSE:SSO) from a sell rating to a hold rating in a report published on Friday morning.

Several other analysts also recently issued reports on the company. Desjardins downgraded SSR Mining from a buy rating to a hold rating in a research note on Wednesday, February 28th. TD Securities lowered shares of SSR Mining from a buy rating to a hold rating in a report on Wednesday, February 14th. Scotiabank cut shares of SSR Mining from a sector outperform rating to a sector perform rating in a research report on Wednesday, February 14th. CIBC cut SSR Mining from a sector outperform rating to a neutral rating and reduced their target price for the company from $18.50 to $6.00 in a research note on Wednesday, February 14th. Finally, National Bank Financial reissued a sector perform spec overwgt rating on shares of SSR Mining in a research report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $6.63.

Check Out Our Latest Stock Report on SSRM

SSR Mining Stock Performance

Shares of SSRM stock traded up $0.09 during mid-day trading on Friday, reaching $5.43. The company’s stock had a trading volume of 2,370,865 shares, compared to its average volume of 3,325,277. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.75 and a current ratio of 3.07. SSR Mining has a 12-month low of $3.76 and a 12-month high of $15.46. The company’s 50 day simple moving average is $5.06 and its 200-day simple moving average is $7.70.

SSR Mining (NASDAQ:SSRMGet Free Report) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.36 by $0.23. The firm had revenue of $425.90 million for the quarter. SSR Mining had a positive return on equity of 6.37% and a negative net margin of 30.90%. During the same quarter last year, the company posted $0.12 earnings per share. Research analysts predict that SSR Mining will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SSRM. Virtu Financial LLC increased its holdings in SSR Mining by 19.2% in the 1st quarter. Virtu Financial LLC now owns 99,082 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 15,935 shares in the last quarter. Tidal Investments LLC purchased a new position in SSR Mining in the first quarter valued at about $6,485,000. Price T Rowe Associates Inc. MD grew its holdings in SSR Mining by 18.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 46,324 shares of the basic materials company’s stock valued at $207,000 after purchasing an additional 7,277 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of SSR Mining during the first quarter valued at about $294,000. Finally, Quadrature Capital Ltd grew its position in shares of SSR Mining by 1,318.9% during the first quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock worth $2,976,000 after acquiring an additional 621,200 shares during the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

About SSR Mining

(Get Free Report)

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.

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