SSR Mining (NASDAQ:SSRM) Shares Gap Down – Should You Sell?

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO)’s share price gapped down before the market opened on Monday . The stock had previously closed at $5.91, but opened at $5.73. SSR Mining shares last traded at $5.79, with a volume of 121,341 shares.

Analyst Ratings Changes

Separately, UBS Group lifted their price objective on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.18.

SSR Mining Price Performance

The stock’s fifty day moving average price is $5.88 and its 200-day moving average price is $5.37. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -2.41, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72.

Hedge Funds Weigh In On SSR Mining

A number of large investors have recently made changes to their positions in SSRM. Vanguard Group Inc. raised its position in SSR Mining by 6.9% during the first quarter. Vanguard Group Inc. now owns 8,303,664 shares of the basic materials company’s stock valued at $37,034,000 after acquiring an additional 533,880 shares in the last quarter. Lazard Asset Management LLC bought a new stake in SSR Mining in the first quarter worth $294,000. Price T Rowe Associates Inc. MD raised its holdings in SSR Mining by 18.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,324 shares of the basic materials company’s stock valued at $207,000 after buying an additional 7,277 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of SSR Mining in the first quarter worth about $6,485,000. Finally, Virtu Financial LLC boosted its stake in shares of SSR Mining by 19.2% during the 1st quarter. Virtu Financial LLC now owns 99,082 shares of the basic materials company’s stock worth $442,000 after acquiring an additional 15,935 shares in the last quarter. Institutional investors and hedge funds 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.