SSR Mining (NASDAQ:SSRM) Upgraded by StockNews.com to “Hold” Rating

SSR Mining (NASDAQ:SSRM) (TSE:SSO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Separately, UBS Group raised 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, SSR Mining presently has a consensus rating of “Hold” and a consensus target price of $5.18.

SSR Mining Price Performance

SSRM stock opened at $7.42 on Thursday. The firm has a market cap of $1.50 billion, a P/E ratio of -3.10, a P/E/G ratio of 1.23 and a beta of 0.61. The firm’s fifty day moving average is $6.50 and its 200 day moving average is $5.78. SSR Mining has a 52 week low of $3.76 and a 52 week high of $10.63. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91.

Institutional Investors Weigh In On SSR Mining

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of SSR Mining by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock worth $8,794,000 after purchasing an additional 220,349 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in SSR Mining during the 3rd quarter valued at approximately $114,000. Franklin Resources Inc. lifted its holdings in SSR Mining by 649.6% in the 3rd quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock worth $847,000 after buying an additional 127,401 shares during the period. Tidal Investments LLC grew its position in shares of SSR Mining by 6.4% in the 3rd quarter. Tidal Investments LLC now owns 2,766,447 shares of the basic materials company’s stock worth $15,713,000 after buying an additional 166,130 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of SSR Mining during the third quarter valued at approximately $334,000. Hedge funds and other institutional investors 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.