SSR Mining Inc. (NASDAQ:SSRM) Receives Average Recommendation of “Reduce” from Brokerages

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been assigned a consensus recommendation of “Reduce” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $7.01.

Separately, UBS Group raised their price target on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a report on Tuesday, October 15th.

Hedge Funds Weigh In On SSR Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in SSR Mining in the 2nd quarter worth approximately $32,000. Point72 DIFC Ltd bought a new position in SSR Mining in the 3rd quarter worth $47,000. Abich Financial Wealth Management LLC purchased a new stake in SSR Mining in the first quarter worth about $41,000. SeaCrest Wealth Management LLC purchased a new position in shares of SSR Mining in the 3rd quarter valued at approximately $57,000. Finally, Quarry LP boosted its holdings in shares of 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 buying an additional 5,649 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Stock Performance

Shares of SSRM stock opened at $5.51 on Friday. 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 firm has a market cap of $1.12 billion, a P/E ratio of -2.31, a PEG ratio of 0.91 and a beta of 0.72. SSR Mining has a 12-month low of $3.76 and a 12-month high of $12.04. The company has a 50 day moving average of $5.84 and a 200-day moving average of $5.35.

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.