SSR Mining (NASDAQ:SSRM) Shares Gap Down – Here’s Why

by · The Markets Daily

SSR Mining Inc. (NASDAQ:SSRM – Get Free Report) (TSE:SSO) shares gapped down before the market opened on Monday . The stock had previously closed at $11.59, but opened at $11.09. SSR Mining shares last traded at $10.59, with a volume of 531,525 shares.

Analyst Ratings Changes

SSRM has been the subject of a number of research analyst reports. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. National Bankshares reaffirmed a “sector perform” rating on shares of SSR Mining in a research report on Wednesday, April 23rd. Cormark raised shares of SSR Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 22nd. Finally, UBS Group raised their price target on shares of SSR Mining from $12.10 to $12.35 and gave the stock a “buy” rating in a research report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, SSR Mining presently has an average rating of “Hold” and an average price target of $10.03.

View Our Latest Stock Analysis on SSR Mining

SSR Mining Price Performance

The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.15 billion, a P/E ratio of -8.22, a PEG ratio of 0.37 and a beta of -0.15. The business has a 50 day simple moving average of $10.44 and a 200-day simple moving average of $8.46.

SSR Mining (NASDAQ:SSRM – Get Free Report) (TSE:SSO) last posted its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.21. The company had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $332.64 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. Analysts predict that SSR Mining Inc. will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On SSR Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE raised its stake 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 valued at $25,000 after purchasing an additional 1,360 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of SSR Mining during the fourth quarter valued at about $29,000. Allianz SE bought a new stake in shares of SSR Mining during the fourth quarter valued at about $30,000. Lincoln Capital LLC bought a new stake in shares of SSR Mining during the fourth quarter valued at about $70,000. Finally, Olympiad Research LP bought a new stake in shares of SSR Mining during the fourth quarter valued at about $94,000. 68.30% of the stock is currently owned by institutional investors.

About SSR Mining

(Get Free Report)

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.

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