SSR Mining Sees Unusually Large Options Volume (SSRM)

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SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) was the target of some unusual options trading on Thursday. Stock traders purchased 1,171 put options on the company. This represents an increase of 927% compared to the average volume of 114 put options.

SSR Mining stock opened at $13.00 on Friday. The company has a current ratio of 8.81, a quick ratio of 6.01 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 56.52 and a beta of -0.53. SSR Mining has a 52 week low of $8.11 and a 52 week high of $15.17.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data on Thursday, February 21st. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $103.71 million for the quarter. SSR Mining had a return on equity of 3.31% and a net margin of 1.57%. Research analysts anticipate that SSR Mining will post 0.29 earnings per share for the current year.

SSRM has been the topic of a number of research reports. BMO Capital Markets restated a “buy” rating and set a $14.00 price objective on shares of SSR Mining in a research report on Monday, December 17th. Royal Bank of Canada boosted their price objective on SSR Mining from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. B. Riley began coverage on SSR Mining in a research report on Friday, March 1st. They set a “neutral” rating and a $14.70 price objective on the stock. BidaskClub lowered SSR Mining from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, National Bank Financial boosted their price target on SSR Mining from $17.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, January 14th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $15.85.

Institutional investors have recently bought and sold shares of the business. Investec Asset Management LTD lifted its stake in shares of SSR Mining by 41.2% during the fourth quarter. Investec Asset Management LTD now owns 5,092,214 shares of the basic materials company’s stock valued at $61,565,000 after acquiring an additional 1,486,116 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SSR Mining by 37.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,267,295 shares of the basic materials company’s stock valued at $39,472,000 after acquiring an additional 884,900 shares during the period. Vanguard Group Inc. lifted its stake in shares of SSR Mining by 4.0% during the third quarter. Vanguard Group Inc. now owns 2,878,489 shares of the basic materials company’s stock valued at $25,071,000 after acquiring an additional 109,627 shares during the period. Vanguard Group Inc lifted its stake in shares of SSR Mining by 4.0% during the third quarter. Vanguard Group Inc now owns 2,878,489 shares of the basic materials company’s stock valued at $25,071,000 after acquiring an additional 109,627 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of SSR Mining by 0.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,848,150 shares of the basic materials company’s stock valued at $22,341,000 after acquiring an additional 17,016 shares during the period. 53.30% of the stock is currently owned by institutional investors.

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SSR Mining Company Profile

SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

Further Reading: What is Call Option Volume?

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