Fintel reports that on February 20, 2024, RBC Capital downgraded their outlook for SSR Mining (NasdaqGS:SSRM) from Sector Perform to Underperform .
Analyst Price Forecast Suggests 302.49% Upside
As of January 18, 2024, the average one-year price target for SSR Mining is 19.76. The forecasts range from a low of 15.15 to a high of $24.15. The average price target represents an increase of 302.49% from its latest reported closing price of 4.91.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SSR Mining is 1,222MM. The projected annual non-GAAP EPS is 0.77.
What is the Fund Sentiment?
There are 438 funds or institutions reporting positions in SSR Mining. This is an increase of 29 owner(s) or 7.09% in the last quarter. Average portfolio weight of all funds dedicated to SSRM is 0.26%, a decrease of 5.54%. Total shares owned by institutions increased in the last three months by 4.38% to 167,012K shares. 
The put/call ratio of SSRM is 0.49, indicating a bullish outlook.
What are Other Shareholders Doing?
Van Eck Associates holds 20,510K shares representing 10.13% ownership of the company. In it's prior filing, the firm reported owning 21,178K shares, representing a decrease of 3.26%. The firm decreased its portfolio allocation in SSRM by 34.99% over the last quarter.
GDX - VanEck Vectors Gold Miners ETF holds 10,821K shares representing 5.34% ownership of the company. In it's prior filing, the firm reported owning 10,877K shares, representing a decrease of 0.52%. The firm increased its portfolio allocation in SSRM by 4.14% over the last quarter.
GDXJ - VanEck Vectors Junior Gold Miners ETF holds 7,390K shares representing 3.65% ownership of the company. In it's prior filing, the firm reported owning 7,166K shares, representing an increase of 3.03%. The firm increased its portfolio allocation in SSRM by 2.87% over the last quarter.
AustralianSuper Pty holds 4,691K shares representing 2.32% ownership of the company.
Franklin Resources holds 3,397K shares representing 1.68% ownership of the company. In it's prior filing, the firm reported owning 3,379K shares, representing an increase of 0.54%. The firm decreased its portfolio allocation in SSRM by 83.15% over the last quarter.
SSR Mining Background Information
(This description is provided by the company.)
SSR Mining Inc. is a leading, free cash flow focused intermediate gold company with a producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru, and Canada. In 2020, the operating assets produced approximately 711,000 gold-equivalent ounces.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
