SSR Mining Target of Unusually High Options Trading (NASDAQ:SSRM)

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) was the recipient of some unusual options trading activity on Monday. Stock investors acquired 5,521 put options on the company. This is an increase of 455% compared to the typical daily volume of 994 put options.

SSR Mining Stock Performance

SSRM opened at $5.63 on Tuesday. The firm has a market capitalization of $1.14 billion, a PE ratio of -2.35, a PEG ratio of 0.86 and a beta of 0.72. The company has a current ratio of 3.91, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. SSR Mining has a twelve month low of $3.76 and a twelve month high of $12.04. The firm’s 50-day moving average price is $5.85 and its 200 day moving average price is $5.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of SSR Mining by 33.8% in the 3rd quarter. Barclays PLC now owns 701,763 shares of the basic materials company’s stock worth $3,985,000 after acquiring an additional 177,447 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of SSR Mining by 399.1% in the third quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock valued at $2,455,000 after purchasing an additional 345,568 shares during the period. Zacks Investment Management acquired a new stake in SSR Mining during the third quarter worth about $881,000. National Bank of Canada FI increased its position in SSR Mining by 3.8% during the third quarter. National Bank of Canada FI now owns 2,737,848 shares of the basic materials company’s stock worth $15,551,000 after purchasing an additional 100,946 shares during the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new position in SSR Mining during the third quarter worth about $520,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, UBS Group lifted their price target on SSR Mining from $6.30 to $6.80 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.01.

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.