Stock Traders Buy High Volume of Put Options on SSR Mining (NASDAQ:SSRM)

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SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) was the recipient of unusually large options trading on Wednesday. Stock investors bought 844 put options on the stock. This is an increase of 1,555% compared to the typical volume of 51 put options.

Several brokerages have recently commented on SSRM. BidaskClub raised SSR Mining from a “sell” rating to a “hold” rating in a research note on Monday. Zacks Investment Research raised SSR Mining from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, April 30th. Scotiabank lowered SSR Mining from an “outperform” rating to a “sector perform” rating and set a $12.00 target price for the company. in a report on Tuesday, April 2nd. ValuEngine lowered SSR Mining from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Finally, B. Riley assumed coverage on SSR Mining in a report on Friday, March 1st. They issued a “neutral” rating and a $14.70 target price for the company. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $15.24.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commerzbank Aktiengesellschaft FI grew its holdings in SSR Mining by 101.1% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 232,363 shares of the basic materials company’s stock valued at $2,809,000 after purchasing an additional 116,834 shares during the period. O Shaughnessy Asset Management LLC bought a new position in SSR Mining during the first quarter valued at $4,762,000. Fiera Capital Corp grew its holdings in SSR Mining by 138.9% during the fourth quarter. Fiera Capital Corp now owns 1,448,530 shares of the basic materials company’s stock valued at $17,543,000 after purchasing an additional 842,129 shares during the period. Hexavest Inc. grew its holdings in SSR Mining by 383.1% during the first quarter. Hexavest Inc. now owns 189,245 shares of the basic materials company’s stock valued at $2,393,000 after purchasing an additional 150,071 shares during the period. Finally, D.A. Davidson & CO. bought a new position in SSR Mining during the fourth quarter valued at $216,000. 55.38% of the stock is owned by institutional investors and hedge funds.

SSRM stock opened at $12.27 on Thursday. The company has a market capitalization of $1.49 billion, a PE ratio of 53.35 and a beta of -0.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.36 and a quick ratio of 3.04. SSR Mining has a 12-month low of $8.11 and a 12-month high of $15.17.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Thursday, May 9th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.06. The company had revenue of $126.30 million during the quarter, compared to analyst estimates of $127.70 million. SSR Mining had a return on equity of 4.38% and a net margin of 3.43%. SSR Mining’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. Analysts anticipate that SSR Mining will post 0.4 earnings per share for the current fiscal year.

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SSR Mining Company Profile

SSR Mining Inc engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. Its projects include the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.

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