Shares of SSR Mining Inc. (NASDAQ:SSRM – Get Free Report) TSE: SSO gapped down prior to trading on Tuesday . The stock had previously closed at $4.91, but opened at $4.37. SSR Mining shares last traded at $4.58, with a volume of 2,153,760 shares trading hands.
Wall Street Analysts Forecast Growth
SSRM has been the topic of several recent analyst reports. CIBC downgraded shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and reduced their price objective for the company from $18.50 to $6.00 in a research note on Wednesday, February 14th. Desjardins began coverage on SSR Mining in a report on Tuesday, October 24th. They set a “buy” rating on the stock. Scotiabank lowered SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. National Bank Financial reissued a “sector perform overweight” rating on shares of SSR Mining in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $3.00 price objective (down previously from $6.00) on shares of SSR Mining in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.85.
SSR Mining Stock Down 7.7 %
The firm has a market capitalization of $919.36 million, a PE ratio of 4.53, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The company has a current ratio of 6.97, a quick ratio of 3.76 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $9.68 and a two-hundred day moving average of $12.07.
Hedge Funds Weigh In On SSR Mining
Hedge funds and other institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can increased its position in SSR Mining by 9.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 12,841 shares of the basic materials company’s stock worth $297,000 after purchasing an additional 1,143 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in SSR Mining by 31.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,454,876 shares of the basic materials company’s stock worth $31,644,000 after buying an additional 349,449 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of SSR Mining in the first quarter worth $413,000. Cetera Investment Advisers purchased a new position in shares of SSR Mining in the 1st quarter valued at $202,000. Finally, Moors & Cabot Inc. purchased a new position in shares of SSR Mining in the 1st quarter valued at $212,000. 61.39% of the stock is owned by institutional investors and hedge funds.
About SSR Mining
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 province, Turkey; the Marigold mine located in Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy province, Argentina.