SSR Mining (NASDAQ:SSRM) Trading 4.8% Higher – Still a Buy?

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) rose 4.8% on Wednesday . The company traded as high as $7.48 and last traded at $7.48. Approximately 2,071,948 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 2,716,594 shares. The stock had previously closed at $7.14.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com cut SSR Mining from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. UBS Group boosted their target price 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 investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.18.

SSR Mining Stock Up 4.9 %

The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.13, a price-to-earnings-growth ratio of 1.23 and a beta of 0.61. 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 price of $6.43 and a 200 day moving average price of $5.74.

Hedge Funds Weigh In On SSR Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSRM. Hsbc Holdings PLC acquired a new position in shares of SSR Mining in the 2nd quarter worth approximately $3,289,000. Two Sigma Advisers LP raised its position in shares of SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after acquiring an additional 462,000 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of SSR Mining by 25.5% in the 2nd quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company’s stock valued at $3,992,000 after purchasing an additional 179,601 shares during the period. Franklin Resources Inc. boosted its position in shares of SSR Mining by 649.6% during the 3rd quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock valued at $847,000 after purchasing an additional 127,401 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in SSR Mining by 177.5% during the third quarter. Verition Fund Management LLC now owns 105,763 shares of the basic materials company’s stock worth $601,000 after purchasing an additional 67,657 shares during the period. 68.30% of the stock is currently owned by institutional investors and hedge funds.

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.