SSR Mining (NASDAQ:SSRM) Upgraded by Royal Bank of Canada to “Sector Perform” Rating

Royal Bank of Canada upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from an underperform rating to a sector perform rating in a report released on Wednesday, Marketbeat reports. The firm currently has $8.00 price target on the basic materials company’s stock, up from their previous price target of $5.50.

A number of other analysts also recently issued reports on SSRM. UBS Group raised 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. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.85.

SSR Mining Stock Up 11.2 %

SSRM stock opened at $9.11 on Wednesday. SSR Mining has a 1 year low of $3.76 and a 1 year high of $9.82. 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 business has a 50 day simple moving average of $7.26 and a 200-day simple moving average of $6.16.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SSRM. US Bancorp DE lifted its holdings in shares of SSR Mining by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 1,360 shares during the last quarter. Point72 DIFC Ltd acquired a new position in SSR Mining during the third quarter worth $47,000. SeaCrest Wealth Management LLC purchased a new position in shares of SSR Mining during the third quarter worth $57,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of SSR Mining in the third quarter valued at $60,000. Finally, Diversified Trust Co acquired a new stake in shares of SSR Mining in the third quarter valued at $70,000. 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.