Brokerages Set SSR Mining Inc. (NASDAQ:SSRM) Target Price at $7.01

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) has been given an average recommendation of “Reduce” by the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.01.

Separately, UBS Group raised their price target on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in SSR Mining in the second quarter worth approximately $32,000. Abich Financial Wealth Management LLC acquired a new position in SSR Mining in the first quarter worth approximately $41,000. Quarry LP grew its position in SSR Mining by 119.7% in the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after buying an additional 5,649 shares during the last quarter. HB Wealth Management LLC acquired a new position in SSR Mining in the 2nd quarter worth approximately $56,000. Finally, SeaCrest Wealth Management LLC purchased a new position in SSR Mining during the 3rd quarter worth approximately $57,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $5.37 on Friday. The firm’s 50 day moving average is $5.82 and its two-hundred day moving average is $5.35. SSR Mining has a 52 week low of $3.76 and a 52 week high of $12.04. The firm has a market capitalization of $1.09 billion, a P/E ratio of -2.25, a PEG ratio of 0.90 and a beta of 0.72. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

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.