SSR Mining Inc. (NASDAQ:SSRM) Sees Large Increase in Short Interest

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

SSR Mining Trading Up 1.1 %

Shares of SSR Mining stock traded up $0.06 on Monday, reaching $5.63. The company had a trading volume of 2,992,926 shares, compared to its average volume of 4,719,087. SSR Mining has a 52-week low of $3.76 and a 52-week high of $17.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01. The firm’s 50 day moving average price is $4.65 and its two-hundred day moving average price is $8.70. The firm has a market cap of $1.14 billion, a PE ratio of -11.04, a PEG ratio of 1.72 and a beta of 0.82.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.23. The business had revenue of $425.90 million for the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same quarter last year, the business posted $0.12 earnings per share. Sell-side analysts predict that SSR Mining will post 0.18 earnings per share for the current fiscal year.

Institutional Trading of SSR Mining

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in SSR Mining in the 3rd quarter valued at approximately $262,000. Oak Thistle LLC acquired a new position in SSR Mining in the 3rd quarter valued at about $485,000. Cambridge Investment Research Advisors Inc. boosted its stake 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 worth $437,000 after purchasing an additional 1,970 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of SSR Mining by 13.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,248 shares of the basic materials company’s stock worth $564,000 after buying an additional 5,033 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of SSR Mining by 3.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,644,819 shares of the basic materials company’s stock worth $48,455,000 after buying an additional 111,218 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SSRM. UBS Group lowered SSR Mining from a “buy” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. Desjardins cut shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. CIBC lowered SSR Mining from a “sector outperform” rating to a “neutral” rating and reduced their target price for the stock from $18.50 to $6.00 in a research note on Wednesday, February 14th. TheStreet lowered shares of SSR Mining from a “c” rating to a “d” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $3.00 target price (down previously from $6.00) on shares of SSR Mining in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, SSR Mining presently has an average rating of “Hold” and an average target price of $6.63.

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.