SSR Mining Inc. (NASDAQ:SSRM) Sees Significant Growth in Short Interest

SSR Mining Inc. (NASDAQ:SSRMGet Rating) (TSE:SSO) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 5,660,000 shares, an increase of 23.9% from the April 30th total of 4,570,000 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 2,300,000 shares, the short-interest ratio is presently 2.5 days.

NASDAQ SSRM opened at $19.43 on Wednesday. The firm’s fifty day moving average price is $21.50 and its two-hundred day moving average price is $19.39. The firm has a market capitalization of $4.13 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 4.55 and a beta of 0.90. The company has a current ratio of 6.02, a quick ratio of 4.52 and a debt-to-equity ratio of 0.09. SSR Mining has a 1 year low of $14.19 and a 1 year high of $24.58.

SSR Mining (NASDAQ:SSRMGet Rating) (TSE:SSO) last released its earnings results on Tuesday, May 3rd. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $355.45 million for the quarter, compared to analyst estimates of $351.25 million. SSR Mining had a return on equity of 8.77% and a net margin of 20.93%. On average, research analysts anticipate that SSR Mining will post 1.45 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Friday, May 13th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, May 12th. SSR Mining’s payout ratio is 20.14%.

In other news, CFO Alison Lynn White sold 4,223 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $22.07, for a total value of $93,201.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SSRM. Rational Advisors LLC boosted its stake in SSR Mining by 127.6% in the fourth quarter. Rational Advisors LLC now owns 1,441 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 808 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in SSR Mining during the 4th quarter valued at about $27,000. PYA Waltman Capital LLC purchased a new stake in shares of SSR Mining during the fourth quarter worth about $29,000. Cullen Frost Bankers Inc. purchased a new stake in shares of SSR Mining in the 1st quarter worth about $33,000. Finally, US Bancorp DE grew its holdings in SSR Mining by 60.1% in the third quarter. US Bancorp DE now owns 2,631 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 988 shares during the period. Institutional investors own 65.13% of the company’s stock.

Several research analysts have issued reports on the company. Scotiabank increased their price objective on SSR Mining from C$31.00 to C$33.50 in a research report on Tuesday, April 19th. UBS Group started coverage on SSR Mining in a report on Tuesday. They set a “buy” rating and a $30.50 target price for the company. Zacks Investment Research lowered shares of SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, May 18th. TD Securities boosted their price objective on shares of SSR Mining from C$38.00 to C$39.00 in a research report on Wednesday, May 4th. Finally, Canaccord Genuity Group boosted their price target on shares of SSR Mining from C$27.00 to C$29.00 in a research report on Friday, February 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $30.31.

SSR Mining Company Profile (Get Rating)

SSR Mining Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, copper, lead, and zinc deposits. Its projects include the Çöpler Gold mine located in Erzincan, Turkey; the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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