SSR Mining (NASDAQ:SSRM) Shares Gap Down to $5.24

SSR Mining Inc. (NASDAQ:SSRMGet Free Report) (TSE:SSO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $5.24, but opened at $5.03. SSR Mining shares last traded at $5.01, with a volume of 125,360 shares.

Analyst Ratings Changes

SSRM has been the subject of several recent research reports. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. TheStreet lowered shares of SSR Mining from a “c” rating to a “d” rating in a research report on Wednesday, February 28th. Desjardins lowered shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. UBS Group lowered shares of SSR Mining from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.63.

Check Out Our Latest Stock Analysis on SSR Mining

SSR Mining Stock Down 3.1 %

The business has a fifty day moving average of $5.25 and a 200 day moving average of $7.29. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -2.53, a P/E/G ratio of 0.65 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.07 and a quick ratio of 1.75.

SSR Mining (NASDAQ:SSRMGet Free Report) (TSE:SSO) last announced 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. SSR Mining had a positive return on equity of 6.37% and a negative net margin of 30.90%. The company had revenue of $230.23 million for the quarter. On average, equities analysts predict that SSR Mining Inc. will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On SSR Mining

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC lifted its position in SSR Mining by 19.2% in the first 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 during the period. Tidal Investments LLC bought a new position in shares of SSR Mining in the first quarter valued at about $6,485,000. Price T Rowe Associates Inc. MD increased its position 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 worth $207,000 after purchasing an additional 7,277 shares during the period. Lazard Asset Management LLC acquired a new stake in SSR Mining in the first quarter worth about $294,000. Finally, Quadrature Capital Ltd grew its position in shares of SSR Mining by 1,318.9% during the 1st quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock worth $2,976,000 after buying an additional 621,200 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Company Profile

(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.

Further Reading

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