SSR Mining (NASDAQ:SSRM) Stock Price Up 12.8% – What’s Next?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s share price traded up 12.8% on Wednesday . The stock traded as high as $9.22 and last traded at $9.24. 1,042,899 shares were traded during mid-day trading, a decline of 55% from the average session volume of 2,330,056 shares. The stock had previously closed at $8.19.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SSRM shares. UBS Group increased their price objective on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their target price for the stock from $5.50 to $8.00 in a research report on Wednesday. Finally, StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, SSR Mining has an average rating of “Hold” and a consensus price target of $6.85.

SSR Mining Stock Up 0.8 %

The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -3.81 and a beta of 0.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 3.91. The business’s 50-day moving average is $7.26 and its two-hundred day moving average is $6.16.

Hedge Funds Weigh In On SSR Mining

Several institutional investors have recently modified their holdings of SSRM. Proficio Capital Partners LLC bought a new position in SSR Mining in the fourth quarter valued at $158,000. Charles Schwab Investment Management Inc. raised its position in shares of SSR Mining by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,378,659 shares of the basic materials company’s stock valued at $9,614,000 after purchasing an additional 51,408 shares during the period. SBI Securities Co. Ltd. acquired a new stake in SSR Mining during the fourth quarter worth approximately $29,000. US Bancorp DE lifted its holdings in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 1,360 shares during the last quarter. Finally, Sprott Inc. bought a new position in SSR Mining during the fourth quarter worth about $1,131,000. Institutional investors own 68.30% of the company’s stock.

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.