SSR Mining (NASDAQ:SSRM) Shares Gap Down – Time to Sell?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) shares gapped down prior to trading on Monday . The stock had previously closed at $5.70, but opened at $5.43. SSR Mining shares last traded at $5.51, with a volume of 392,330 shares.

Wall Street Analyst Weigh In

Separately, UBS Group lifted their price target on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, SSR Mining currently has an average rating of “Hold” and a consensus target price of $7.01.

SSR Mining Trading Down 3.6 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The company has a 50 day simple moving average of $5.81 and a two-hundred day simple moving average of $5.35. The company has a market cap of $1.08 billion, a PE ratio of -2.23, a PEG ratio of 0.82 and a beta of 0.72.

Hedge Funds Weigh In On SSR Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in SSR Mining during the 2nd quarter valued at about $32,000. Abich Financial Wealth Management LLC purchased a new position in SSR Mining during the 1st quarter valued at about $41,000. SeaCrest Wealth Management LLC purchased a new position in SSR Mining during the 3rd quarter valued at about $57,000. Quarry LP grew its stake in SSR Mining by 119.7% during the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 5,649 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in SSR Mining during the 3rd quarter valued at about $60,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Company Profile

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.