SSR Mining (NASDAQ:SSRM) Trading Down 3.8% – Time to Sell?

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) traded down 3.8% on Friday . The stock traded as low as $7.37 and last traded at $7.37. 155,984 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 3,368,885 shares. The stock had previously closed at $7.66.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com downgraded SSR Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. UBS Group boosted their target price on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.18.

SSR Mining Trading Down 4.3 %

The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $6.03 and a 200-day moving average of $5.46.

Institutional Trading of SSR Mining

A number of institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new stake in shares of SSR Mining in the 2nd quarter valued at about $3,289,000. National Bank of Canada FI boosted its holdings in SSR Mining by 73.7% during the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after acquiring an additional 1,118,417 shares during the period. Two Sigma Advisers LP boosted its stake in shares of SSR Mining by 16.2% during the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after purchasing an additional 462,000 shares during the period. Mackenzie Financial Corp boosted its position in SSR Mining by 25.5% during the 2nd quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company’s stock valued at $3,992,000 after buying an additional 179,601 shares during the period. Finally, Paragon Capital Management Inc. bought a new stake in shares of SSR Mining in the second quarter worth about $1,672,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

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.