SSR Mining (NASDAQ:SSRM) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of SSR Mining (NASDAQ:SSRM) (TSE:SSO) from an underperform rating to a sector perform rating in a report released on Wednesday, MarketBeat reports. The firm currently has $8.00 target price on the basic materials company’s stock, up from their prior target price of $5.50.

SSRM has been the topic of several other reports. UBS Group increased their price objective on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.85.

SSR Mining Trading Down 1.2 %

SSRM opened at $9.01 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The business’s 50 day moving average price is $7.33 and its 200 day moving average price is $6.18. SSR Mining has a one year low of $3.76 and a one year high of $9.82. The stock has a market capitalization of $1.82 billion, a PE ratio of -3.77 and a beta of 0.62.

Hedge Funds Weigh In On SSR Mining

A number of institutional investors have recently added to or reduced their stakes in SSRM. US Bancorp DE raised its holdings in shares of SSR Mining by 62.4% during the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 1,360 shares during the period. SBI Securities Co. Ltd. bought a new position in SSR Mining in the 4th quarter worth approximately $29,000. Point72 DIFC Ltd bought a new position in SSR Mining in the 3rd quarter worth approximately $47,000. SeaCrest Wealth Management LLC bought a new position in SSR Mining during the 3rd quarter valued at $57,000. Finally, Allspring Global Investments Holdings LLC bought a new position in SSR Mining during the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

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.