SSR Mining Inc. (SSRM) receives a Buy rating from UBS


SSR Mining Inc.’s filing revealed that its Director Anglin Arthur Michael acquired Company’s shares for reported $0.13 million on May 12. In the deal valued at $16.23 per share,8,000 shares were bought. As a result of this transaction, Anglin Arthur Michael now holds 52,306 shares worth roughly $ 0.79 million.

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Then, Farid Fady Adel Edward sold 2,955 shares, generating $39,331 in total proceeds. Upon selling the shares at $13.31, the Chief Corp Development Officer now owns 115,466 shares.

Before that, White Alison Lynn sold 2,439 shares. SSR Mining Inc. shares valued at $32,463 were divested by the Chief Financial Officer at a price of $13.31 per share. As a result of the transaction, White Alison Lynn now holds 66,077 shares, worth roughly $0.99 million.

UBS initiated its SSR Mining Inc. [SSRM] rating to a Buy in a research note published on Monday, June 01, 2022; the price target was $22. PT values the company’s stock at a premium of 31.59 to its Monday closing price.

Price Performance Review of SSRM

On Monday, SSR Mining Inc. [NASDAQ:SSRM] saw its stock jump 0.20% to $15.05. On the same session, the stock had its day’s lowest price of $14.835, but rose to a high of $15.11. Over the last five days, the stock has gained 1.96%. SSR Mining Inc. shares have fallen nearly -3.96% since the year began. Nevertheless, the stocks have risen 10.66% over the past one year. While a 52-week high of $17.74 was reached on 01/26/23, a 52-week low of $12.78 was recorded on 03/10/23. SMA at 50 days reached $14.61, while 200 days put it at $15.05. A total of 0.74 million shares were traded, compared to the trading of 1.71 million shares in the previous session.

Levels Of Support And Resistance For SSRM Stock

The 24-hour chart illustrates a support level at 14.89, which if violated will result in even more drops to 14.72. On the upside, there is a resistance level at 15.16. A further resistance level may holdings at 15.27. The Relative Strength Index (RSI) on the 14-day chart is 58.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 23.16%. Stochastics %K at 70.42% indicates the stock is a holding.

How much short interest is there in SSR Mining Inc.?

A steep rise in short interest was recorded in SSR Mining Inc. stocks on Aug 30, 2023, dropping by -0.11 million shares to a total of 5.99 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 6.1 million shares. There was a decline of -1.84%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.89% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.87.

SSR Mining Inc. [SSRM] – Who Are The Largest Shareholders?

In filings from Van Eck Associates Corp., it is revealed that the company now owns 20,997,350 shares, or roughly 10.30% of the outstanding SSRM shares. In other words, the investor’s shares have fallen by -2,118,552 from its previous 13-F filing of 23115902.0. Additionally, BlackRock Investment Management increased 12.98% of its stake after which the total value it holdings stand at $213,052,623, while The Vanguard Group, Inc. added 0.91% of its stake to hold $81.72 million in the firm. Over the last quarter, Mackenzie Financial Corp. sold -967,132 shares of SSR Mining Inc., while BlackRock Fund Advisors sold -78,604 shares. At present, Global X Management Co. LLC is holding 3,533,601 shares valued at $52.47 million. Franklin Advisers, Inc. owned 3,371,156 shares of the company at the time of its most recent 13F filing, worth $50.06 million.

According to FactSet, SSR Mining Inc.’s share price will average $21.93 in the next year, based on opinions of analysts polled by the firm. This is up nearly 44.61 percent from its previous closing price of $15.02. Analysts expect SSR Mining Inc. stock to reach the higher price of $27.73, while the lowest price estimate is $17.61. However, 10 analysts have rated SSRM stock as a Buy in their predictions for 2023.


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