SSR Mining (NASDAQ:SSRM) Shares Down 3.7%

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) shares traded down 3.7% during trading on Monday . The stock traded as low as $5.72 and last traded at $5.75. 390,663 shares traded hands during trading, a decline of 89% from the average session volume of 3,712,901 shares. The stock had previously closed at $5.97.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group decreased their price objective on SSR Mining from $6.50 to $6.30 and set a “buy” rating for the company in a report on Thursday, August 8th. CIBC increased their price objective on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SSR Mining presently has an average rating of “Hold” and a consensus price target of $6.89.

SSR Mining Price Performance

The firm has a 50-day simple moving average of $5.31 and a two-hundred day simple moving average of $5.10. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -2.82, a P/E/G ratio of 0.66 and a beta of 0.73. The company has a current ratio of 3.54, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The firm had revenue of $184.84 million for the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. As a group, analysts predict that SSR Mining Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

Institutional investors have recently modified their holdings of the business. D. E. Shaw & Co. Inc. boosted its position in SSR Mining by 45.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 8,228,572 shares of the basic materials company’s stock worth $37,124,000 after purchasing an additional 2,587,212 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of SSR Mining during the 1st quarter valued at approximately $6,485,000. National Bank of Canada FI grew its stake in SSR Mining by 73.7% in the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after acquiring an additional 1,118,417 shares during the period. Van ECK Associates Corp increased its holdings in SSR Mining by 4.5% in the 1st quarter. Van ECK Associates Corp now owns 21,439,627 shares of the basic materials company’s stock worth $95,619,000 after acquiring an additional 929,850 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of SSR Mining in the second quarter valued at about $3,289,000. 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.