SSR Mining (NASDAQ:SSRM) Stock Price Down 8% – Should You Sell?

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

Analyst Ratings Changes

Several research firms recently issued reports on SSRM. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. CIBC increased their price target on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. UBS Group upped their price objective on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, National Bank Financial raised SSR Mining to a “hold” rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, SSR Mining currently has a consensus rating of “Hold” and a consensus price target of $9.93.

SSR Mining Stock Down 0.4 %

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

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

Institutional Trading of SSR Mining

A number of large investors have recently made changes to their positions in SSRM. Wellington Management Group LLP grew its position in SSR Mining by 0.4% in the fourth quarter. Wellington Management Group LLP now owns 497,378 shares of the basic materials company’s stock worth $3,462,000 after acquiring an additional 1,884 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new stake in shares of SSR Mining in the 4th quarter valued at approximately $679,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of SSR Mining by 10.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 22,000 shares of the basic materials company’s stock worth $153,000 after purchasing an additional 2,000 shares during the period. Mackenzie Financial Corp increased its position in shares of SSR Mining by 2.4% during the 4th quarter. Mackenzie Financial Corp now owns 119,071 shares of the basic materials company’s stock valued at $831,000 after purchasing an additional 2,755 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors purchased a new stake in SSR Mining during the 4th quarter valued at $154,000. 68.30% of the stock is currently owned by institutional investors.

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.