SSR Mining (NASDAQ:SSRM) Shares Up 4.8% – Time to Buy?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) shares rose 4.8% on Wednesday . The stock traded as high as $7.48 and last traded at $7.48. Approximately 2,071,948 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 2,716,594 shares. The stock had previously closed at $7.14.

Analyst Ratings Changes

SSRM has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com lowered SSR Mining from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.18.

SSR Mining Trading Up 4.9 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. The firm has a market capitalization of $1.52 billion, a PE ratio of -3.13, a PEG ratio of 1.23 and a beta of 0.61. The firm’s fifty day moving average is $6.43 and its two-hundred day moving average is $5.74.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SSRM. HighTower Advisors LLC grew its holdings in SSR Mining by 24.8% during the third 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 during the period. Quantinno Capital Management LP grew its stake in shares of SSR Mining by 9.8% during the 3rd quarter. Quantinno Capital Management LP now owns 31,107 shares of the basic materials company’s stock worth $177,000 after acquiring an additional 2,788 shares during the period. Principal Financial Group Inc. increased 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 worth $90,000 after acquiring an additional 3,760 shares during the last quarter. Quarry LP raised its stake 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 acquiring an additional 5,649 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in SSR Mining during the second quarter valued at about $32,000. 68.30% of the stock is owned by institutional investors.

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.