SSR Mining Inc. (NASDAQ:SSRM) Short Interest Update

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 5,230,000 shares, an increase of 30.4% from the March 31st total of 4,010,000 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 5,320,000 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Desjardins lowered SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. TheStreet lowered SSR Mining from a “c” rating to a “d” rating in a report on Wednesday, February 28th. Royal Bank of Canada reiterated an “underperform” rating and issued a $3.00 target price (down from $6.00) on shares of SSR Mining in a research report on Tuesday, February 20th. UBS Group downgraded SSR Mining from a “buy” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. Finally, Scotiabank downgraded SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, SSR Mining presently has an average rating of “Hold” and a consensus price target of $6.63.

SSR Mining Trading Up 0.9 %

NASDAQ SSRM traded up $0.05 during trading hours on Friday, hitting $5.57. 2,902,127 shares of the company’s stock were exchanged, compared to its average volume of 3,938,053. The stock has a 50-day simple moving average of $4.63 and a 200 day simple moving average of $8.78. SSR Mining has a 1-year low of $3.76 and a 1-year high of $17.72. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -10.92, a PEG ratio of 1.72 and a beta of 0.82. The company has a current ratio of 7.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.07.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.27% and a negative net margin of 6.87%. The firm had revenue of $425.90 million during the quarter. During the same period last year, the business posted $0.12 EPS. On average, equities analysts forecast that SSR Mining will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of SSR Mining by 6.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 32,911 shares of the basic materials company’s stock valued at $437,000 after buying an additional 1,970 shares during the last quarter. Barclays PLC lifted its position in shares of SSR Mining by 4.7% during the 3rd quarter. Barclays PLC now owns 62,325 shares of the basic materials company’s stock valued at $828,000 after buying an additional 2,781 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in shares of SSR Mining during the 4th quarter valued at $40,000. CWM LLC lifted its position in shares of SSR Mining by 178.5% during the 1st quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after buying an additional 3,926 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of SSR Mining by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 122,739 shares of the basic materials company’s stock valued at $1,631,000 after buying an additional 4,423 shares during the last quarter. Hedge funds and other 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.