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 the month of 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. Currently, 2.6% of the shares of the company are sold short. Based on an average trading volume of 5,320,000 shares, the short-interest ratio is currently 1.0 days.

Analysts Set New Price Targets

Several research firms have commented on SSRM. CIBC lowered shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and lowered their price target for the company from $18.50 to $6.00 in a report on Wednesday, February 14th. Scotiabank lowered shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. Desjardins lowered shares of SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. TheStreet lowered shares of SSR Mining from a “c” rating to a “d” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $3.00 target price (down from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.63.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SSRM. AustralianSuper Pty Ltd acquired a new position in SSR Mining in the fourth quarter valued at $50,352,000. Norges Bank acquired a new stake in shares of SSR Mining in the fourth quarter valued at approximately $24,398,000. American Century Companies Inc. grew its position in shares of SSR Mining by 321.9% in the third quarter. American Century Companies Inc. now owns 647,054 shares of the basic materials company’s stock valued at $8,599,000 after purchasing an additional 493,695 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of SSR Mining in the fourth quarter valued at approximately $4,306,000. Finally, CoreCommodity Management LLC boosted its position in SSR Mining by 815.2% during the fourth quarter. CoreCommodity Management LLC now owns 415,374 shares of the basic materials company’s stock worth $4,469,000 after acquiring an additional 369,989 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Stock Performance

SSRM traded up $0.05 on Friday, reaching $5.57. The company had a trading volume of 2,902,127 shares, compared to its average volume of 3,938,053. SSR Mining has a 1 year low of $3.76 and a 1 year high of $17.72. The stock has a market capitalization of $1.12 billion, a PE ratio of -10.92, a P/E/G ratio of 1.72 and a beta of 0.82. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $4.63 and a 200-day moving average price of $8.78.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter. During the same period last year, the firm earned $0.12 earnings per share. As a group, research analysts forecast that SSR Mining will post 0.18 EPS for the current fiscal year.

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.