SSR Mining (NASDAQ:SSRM) Shares Down 8% – Time to Sell?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) traded down 8% during mid-day trading on Monday . The stock traded as low as $10.09 and last traded at $10.01. 1,074,891 shares were traded during mid-day trading, a decline of 62% from the average session volume of 2,806,963 shares. The stock had previously closed at $10.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and raised their target price for the stock from $5.50 to $8.00 in a research report on Wednesday, February 5th. National Bank Financial raised SSR Mining to a “hold” rating in a research report on Friday, March 21st. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. CIBC lifted their price objective on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, UBS Group increased their target price on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.93.

SSR Mining Trading Down 0.4 %

The company has a 50-day moving average price of $9.69 and a 200 day moving average price of $7.54. The stock has a market capitalization of $2.02 billion, a P/E ratio of -7.74, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $323.19 million during the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. On average, research analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in shares of SSR Mining by 0.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company’s stock valued at $1,686,000 after acquiring an additional 1,200 shares in the last quarter. Xponance Inc. raised its holdings in shares of SSR Mining by 9.3% in the fourth quarter. Xponance Inc. now owns 14,387 shares of the basic materials company’s stock worth $100,000 after buying an additional 1,222 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of SSR Mining by 0.5% in the fourth quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock worth $1,729,000 after buying an additional 1,282 shares during the last quarter. US Bancorp DE lifted 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 worth $25,000 after buying an additional 1,360 shares during the period. Finally, HB Wealth Management LLC grew its holdings in shares of SSR Mining by 11.3% during the fourth quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock valued at $100,000 after buying an additional 1,463 shares during the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Company Profile

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.