SSR Mining (NASDAQ:SSRM) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from a hold rating to a sell rating in a research note published on Wednesday morning.

Separately, UBS Group raised their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, SSR Mining has an average rating of “Hold” and an average price target of $5.18.

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $5.76 on Wednesday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -2.41, a PEG ratio of 0.95 and a beta of 0.72. SSR Mining has a 12 month low of $3.76 and a 12 month high of $12.04. The firm’s 50 day simple moving average is $5.88 and its 200-day simple moving average is $5.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97.

Institutional Investors Weigh In On SSR Mining

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its holdings in SSR Mining by 24.8% in the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 2,619 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in SSR Mining by 9.8% in the 3rd quarter. Quantinno Capital Management LP now owns 31,107 shares of the basic materials company’s stock valued at $177,000 after purchasing an additional 2,788 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in SSR Mining by 23.3% in the 2nd quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company’s stock valued at $90,000 after purchasing an additional 3,760 shares in the last quarter. Quarry LP lifted its holdings in SSR Mining by 119.7% in the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 5,649 shares in the last quarter. Finally, Cadence Wealth Management LLC lifted its holdings in SSR Mining by 17.1% in the 2nd quarter. Cadence Wealth Management LLC now owns 47,068 shares of the basic materials company’s stock valued at $213,000 after purchasing an additional 6,860 shares in the last quarter. Institutional investors and hedge funds 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.