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 $5.70, but opened at $5.43. SSR Mining shares last traded at $5.51, with a volume of 392,330 shares changing hands.

Analyst Upgrades and Downgrades

Separately, UBS Group increased their target price on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, SSR Mining currently has a consensus rating of “Hold” and a consensus price target of $7.01.

Get Our Latest Stock Report on SSR Mining

SSR Mining Stock Down 4.4 %

The business’s 50 day moving average is $5.80 and its 200-day moving average is $5.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.78. The company has a market cap of $1.10 billion, a PE ratio of -2.38, a P/E/G ratio of 0.84 and a beta of 0.72.

Institutional Trading of SSR Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in SSR Mining in the 2nd quarter valued at $32,000. Abich Financial Wealth Management LLC acquired a new position in SSR Mining in the 1st quarter valued at $41,000. SeaCrest Wealth Management LLC acquired a new position in SSR Mining in the 3rd quarter valued at $57,000. Quarry LP increased 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 buying an additional 5,649 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in SSR Mining in the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Company Profile

(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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