SSR Mining (NASDAQ:SSRM) Shares Up 5% – Here’s What Happened

by · The Markets Daily

SSR Mining Inc. (NASDAQ:SSRM – Get Free Report) (TSE:SSO)’s stock price traded up 5% during trading on Thursday . The company traded as high as $5.72 and last traded at $5.72. 1,493,804 shares were traded during mid-day trading, a decline of 59% from the average session volume of 3,625,783 shares. The stock had previously closed at $5.45.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group lowered their price target on SSR Mining from $6.50 to $6.30 and set a “buy” rating on the stock in a report on Thursday, August 8th. CIBC boosted their price target on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.89.

Check Out Our Latest Report on SSR Mining

SSR Mining Stock Up 5.3 %

The company has a 50-day moving average of $5.34 and a two-hundred day moving average of $5.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 1.78. The company has a market capitalization of $1.16 billion, a PE ratio of -2.63, a P/E/G ratio of 0.60 and a beta of 0.73.

SSR Mining (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $184.84 million for the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. Sell-side analysts anticipate that SSR Mining Inc. will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SSR Mining

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC bought a new stake in shares of SSR Mining during the 2nd quarter valued at $3,289,000. Alaska Permanent Fund Corp lifted its position in shares of SSR Mining by 17.6% in the first quarter. Alaska Permanent Fund Corp now owns 1,169,423 shares of the basic materials company’s stock valued at $5,216,000 after acquiring an additional 175,212 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of SSR Mining by 1,318.9% in 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 period. National Bank of Canada FI grew its position in shares of SSR Mining by 73.7% during the second quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock worth $11,815,000 after purchasing an additional 1,118,417 shares in the last quarter. Finally, Duality Advisers LP raised its stake in SSR Mining by 239.1% during the 1st quarter. Duality Advisers LP now owns 264,975 shares of the basic materials company’s stock valued at $1,182,000 after purchasing an additional 186,829 shares during the period. 68.30% of the stock is currently owned by 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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