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

SSR Mining Inc. (NASDAQ:SSRM - Get Free Report) TSE: SSO saw a significant 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 volume of 5,320,000 shares, the short-interest ratio is presently 1.0 days. Currently, 2.6% of the company's shares are sold short.

SSR Mining Stock Up 0.9 %

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. SSR Mining has a 12-month low of $3.76 and a 12-month high of $17.72. The firm has a 50 day moving average of $4.63 and a 200 day moving average of $8.75. The firm has a market cap of $1.12 billion, a P/E ratio of -10.92, a price-to-earnings-growth 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 - Get Free Report) TSE: SSO last announced its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.23. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. The firm had revenue of $425.90 million for the quarter. During the same period in the previous year, the company earned $0.12 earnings per share. Analysts predict that SSR Mining will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. TD Securities downgraded shares of SSR Mining from a "buy" rating to a "hold" rating in a research note on Wednesday, February 14th. National Bank Financial reissued a "sector perform spec overwgt" rating on shares of SSR Mining in a research note on Monday, April 8th. UBS Group downgraded shares of SSR Mining from a "buy" rating to a "neutral" rating and reduced their price target for the company from $17.00 to $5.00 in a research note on Thursday, February 22nd. Scotiabank downgraded shares of SSR Mining from a "sector outperform" rating to a "sector perform" rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada reissued an "underperform" rating and issued a $3.00 price target (down from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $6.63.

Institutional Investors Weigh In On SSR Mining

Several large investors have recently added to or reduced their stakes in SSRM. American Century Companies Inc. grew its holdings in SSR Mining by 321.9% during the 3rd quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company's stock worth $8,599,000 after acquiring an additional 493,695 shares in the last quarter. Scotia Capital Inc. grew its holdings in SSR Mining by 210.5% during the 3rd quarter. Scotia Capital Inc. now owns 351,768 shares of the basic materials company's stock worth $4,660,000 after acquiring an additional 238,481 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in SSR Mining during the 4th quarter worth approximately $50,352,000. Hsbc Holdings PLC acquired a new position in SSR Mining during the 3rd quarter worth approximately $259,000. Finally, U S Global Investors Inc. acquired a new position in SSR Mining during the 4th quarter worth approximately $3,405,000. 68.30% of the stock is owned by hedge funds and other institutional investors.

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.