SSR Mining (NASDAQ:SSRM) Stock Price Down 8% – Time to Sell?

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) were down 8% on Monday . The company traded as low as $10.09 and last traded at $10.01. Approximately 1,074,891 shares traded hands during trading, a decline of 62% from the average daily volume of 2,806,963 shares. The stock had previously closed at $10.88.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. National Bank Financial upgraded SSR Mining to a “hold” rating in a research note on Friday, March 21st. UBS Group upped their price target on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. CIBC raised their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and raised their price target for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.93.

SSR Mining Trading Down 7.3 %

The stock has a market cap of $2.04 billion, a P/E ratio of -7.83, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. The stock’s 50-day moving average is $9.59 and its two-hundred day moving average is $7.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $323.19 million during the quarter, compared to analysts’ expectations of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. Equities research analysts anticipate that SSR Mining Inc. will post 0.73 EPS for the current year.

Hedge Funds Weigh In On SSR Mining

Several institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of SSR Mining by 62.4% during 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in SSR Mining in the fourth quarter worth $29,000. Allianz SE purchased a new stake in SSR Mining during the fourth quarter valued at $30,000. Point72 DIFC Ltd bought a new position in SSR Mining during the third quarter valued at $47,000. Finally, Lincoln Capital LLC purchased a new position in shares of SSR Mining in the 4th quarter worth $70,000. 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.