Stock Traders Purchase Large Volume of Call Options on SSR Mining (NASDAQ:SSRM)

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SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) saw unusually large options trading activity on Thursday. Stock traders acquired 31,198 call options on the company. This is an increase of approximately 1,987% compared to the typical daily volume of 1,495 call options.

A number of research firms have weighed in on SSRM. Zacks Investment Research cut shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. BMO Capital Markets set a $18.00 price objective on shares of SSR Mining and gave the stock a “buy” rating in a report on Friday, February 22nd. Royal Bank of Canada raised their price objective on shares of SSR Mining from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. TheStreet cut shares of SSR Mining from a “b” rating to a “c” rating in a report on Tuesday, February 26th. Finally, BidaskClub raised shares of SSR Mining from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $15.24.

Shares of SSR Mining stock opened at $12.73 on Friday. The firm has a market capitalization of $1.49 billion, a PE ratio of 55.35 and a beta of -0.46. SSR Mining has a 12 month low of $8.11 and a 12 month high of $15.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.04 and a current ratio of 4.36.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Thursday, May 9th. The basic materials company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. The business had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $127.70 million. SSR Mining had a net margin of 3.43% and a return on equity of 4.38%. The company’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. As a group, equities research analysts expect that SSR Mining will post 0.4 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Coastal Investment Advisors Inc. acquired a new stake in shares of SSR Mining during the 1st quarter valued at about $36,000. Premia Global Advisors LLC bought a new stake in SSR Mining in the first quarter valued at about $84,000. FIL Ltd bought a new stake in shares of SSR Mining in the first quarter worth about $123,000. Advisory Services Network LLC increased its holdings in shares of SSR Mining by 138.6% in the fourth quarter. Advisory Services Network LLC now owns 14,096 shares of the basic materials company’s stock worth $170,000 after acquiring an additional 8,188 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of SSR Mining during the first quarter worth about $181,000. 55.38% of the stock is currently owned by institutional investors and hedge funds.

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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.

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