SSR Mining (NASDAQ:SSRM) Shares Gap Down to $5.34

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) gapped down before the market opened on Monday . The stock had previously closed at $5.34, but opened at $5.13. SSR Mining shares last traded at $5.24, with a volume of 1,195,085 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SSRM. Desjardins cut shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Royal Bank of Canada restated an “underperform” rating and issued a $3.00 price objective (down from $6.00) on shares of SSR Mining in a report on Tuesday, February 20th. Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a report on Monday, April 8th. Finally, TD Securities downgraded SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.63.

SSR Mining Trading Up 3.0 %

The company has a current ratio of 7.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.08 billion, a PE ratio of -10.52, a P/E/G ratio of 0.62 and a beta of 0.82. The stock has a 50 day moving average price of $4.59 and a 200-day moving average price of $8.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The business had revenue of $425.90 million during the quarter. During the same quarter in the prior year, the firm earned $0.12 earnings per share. Sell-side analysts expect that SSR Mining Inc. will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SSRM. Allspring Global Investments Holdings LLC increased its stake in shares of SSR Mining by 30.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 629,372 shares of the basic materials company’s stock worth $2,807,000 after purchasing an additional 146,733 shares in the last quarter. Oak Thistle LLC grew its holdings in SSR Mining by 20.0% during the first quarter. Oak Thistle LLC now owns 40,083 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 6,680 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in SSR Mining in the first quarter worth about $721,000. Wedmont Private Capital bought a new position in shares of SSR Mining in the first quarter worth about $81,000. Finally, Alaska Permanent Fund Corp lifted its position in shares of SSR Mining by 17.6% during the 1st quarter. Alaska Permanent Fund Corp now owns 1,169,423 shares of the basic materials company’s stock valued at $5,216,000 after buying an additional 175,212 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors.

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.