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

SSR Mining Inc (NASDAQ:SSRM) (TSE:SSO) saw unusually large options trading on Wednesday. Traders bought 844 put options on the company. This is an increase of approximately 1,555% compared to the average daily volume of 51 put options.

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its position in SSR Mining by 0.6% during the 4th quarter. American Century Companies Inc. now owns 199,700 shares of the basic materials company’s stock worth $2,414,000 after acquiring an additional 1,100 shares during the last quarter. PCJ Investment Counsel Ltd. grew its position in SSR Mining by 2.3% during the 1st quarter. PCJ Investment Counsel Ltd. now owns 118,030 shares of the basic materials company’s stock worth $1,492,000 after acquiring an additional 2,660 shares during the last quarter. MML Investors Services LLC grew its position in SSR Mining by 11.8% during the 1st quarter. MML Investors Services LLC now owns 27,206 shares of the basic materials company’s stock worth $344,000 after acquiring an additional 2,882 shares during the last quarter. Coastal Investment Advisors Inc. bought a new stake in SSR Mining during the 1st quarter worth $36,000. Finally, Swiss National Bank grew its position in SSR Mining by 1.6% during the 1st quarter. Swiss National Bank now owns 220,511 shares of the basic materials company’s stock worth $2,788,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 55.38% of the company’s stock.

A number of equities analysts have recently commented on SSRM shares. BMO Capital Markets set a $18.00 price target on SSR Mining and gave the stock a “buy” rating in a report on Friday, February 22nd. TheStreet cut SSR Mining from a “b” rating to a “c” rating in a report on Tuesday, February 26th. Royal Bank of Canada boosted their price target on SSR Mining from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. BidaskClub cut SSR Mining from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Finally, B. Riley started coverage on SSR Mining in a report on Friday, March 1st. They set a “neutral” rating and a $14.70 price target for the company. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. SSR Mining has an average rating of “Buy” and a consensus price target of $15.24.

Shares of SSRM stock opened at $12.27 on Thursday. The firm has a market cap of $1.49 billion, a P/E ratio of 53.35 and a beta of -0.46. SSR Mining has a twelve month low of $8.11 and a twelve month high of $15.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.04 and a current ratio of 4.36.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The business had revenue of $126.30 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. Equities research analysts expect that SSR Mining will post 0.4 EPS 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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