SSR Mining (NASDAQ:SSRM) Trading Up 6.2%

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) shot up 6.2% during trading on Thursday . The stock traded as high as $5.66 and last traded at $5.66. 895,332 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 3,823,369 shares. The stock had previously closed at $5.33.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group cut their price objective on SSR Mining from $6.50 to $6.30 and set a “buy” rating on the stock in a research report on Thursday, August 8th. CIBC upped their price target on SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.89.

SSR Mining Stock Performance

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -2.86, a PEG ratio of 0.52 and a beta of 0.73. 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 stock has a 50 day simple moving average of $5.15 and a two-hundred day simple moving average of $4.97.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The business 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%. As a group, analysts anticipate that SSR Mining Inc. will post 0.58 earnings per share for the current year.

Institutional Trading of SSR Mining

Several institutional investors have recently modified their holdings of SSRM. Russell Investments Group Ltd. raised its stake in SSR Mining by 17.9% during the 4th quarter. Russell Investments Group Ltd. now owns 62,462 shares of the basic materials company’s stock worth $673,000 after acquiring an additional 9,481 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of SSR Mining during the fourth quarter worth about $127,000. Fiera Capital Corp lifted its holdings in shares of SSR Mining by 39.8% in the 4th quarter. Fiera Capital Corp now owns 39,375 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 11,200 shares during the last quarter. Norges Bank acquired a new stake in shares of SSR Mining in the 4th quarter valued at about $24,398,000. Finally, Trexquant Investment LP grew its stake in SSR Mining by 1,181.2% during the 4th quarter. Trexquant Investment LP now owns 340,645 shares of the basic materials company’s stock worth $3,665,000 after buying an additional 314,057 shares during the last quarter. 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.