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

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) saw unusually large options trading activity on Wednesday. Traders acquired 3,772 put options on the company. This is an increase of 110% compared to the typical daily volume of 1,800 put options.

Wall Street Analyst Weigh In

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

SSR Mining Stock Down 1.2 %

Shares of SSRM stock traded down $0.12 during trading hours on Wednesday, reaching $9.88. 794,089 shares of the company’s stock were exchanged, compared to its average volume of 2,801,845. SSR Mining has a fifty-two week low of $4.32 and a fifty-two week high of $11.48. The stock’s 50 day moving average is $9.69 and its 200-day moving average is $7.54. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -7.65, a P/E/G ratio of 0.37 and a beta of 0.53.

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

Hedge Funds Weigh In On SSR Mining

Several hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its stake 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 valued at $25,000 after purchasing an additional 1,360 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SSR Mining during the fourth quarter valued at $29,000. Allianz SE acquired a new position in shares of SSR Mining in the 4th quarter valued at $30,000. Point72 DIFC Ltd purchased a new position in SSR Mining in the 3rd quarter worth $47,000. Finally, Lincoln Capital LLC purchased a new position in SSR Mining in the 4th quarter worth $70,000. 68.30% of the stock is owned by hedge funds and other 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.