Fintel reports that on October 6, 2023, UBS maintained coverage of SSR Mining (NASDAQ:SSRM) with a Buy recommendation.
Analyst Price Forecast Suggests 79.60% Upside
As of October 5, 2023, the average one-year price target for SSR Mining is 22.90. The forecasts range from a low of 18.48 to a high of $27.82. The average price target represents an increase of 79.60% from its latest reported closing price of 12.75.
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The projected annual revenue for SSR Mining is 1,320MM. The projected annual non-GAAP EPS is 0.94.
What is the Fund Sentiment?
There are 415 funds or institutions reporting positions in SSR Mining. This is a decrease of 6 owner(s) or 1.43% in the last quarter. Average portfolio weight of all funds dedicated to SSRM is 0.26%, an increase of 1.49%. Total shares owned by institutions decreased in the last three months by 2.14% to 161,844K shares. 
The put/call ratio of SSRM is 0.54, indicating a bullish outlook.
What are Other Shareholders Doing?
Van Eck Associates holds 20,997K shares representing 10.30% ownership of the company. In it's prior filing, the firm reported owning 23,116K shares, representing a decrease of 10.09%. The firm decreased its portfolio allocation in SSRM by 10.25% over the last quarter.
GDX - VanEck Vectors Gold Miners ETF holds 10,877K shares representing 5.34% ownership of the company. In it's prior filing, the firm reported owning 12,112K shares, representing a decrease of 11.35%. The firm decreased its portfolio allocation in SSRM by 2.07% over the last quarter.
GDXJ - VanEck Vectors Junior Gold Miners ETF holds 7,166K shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 7,786K shares, representing a decrease of 8.65%. The firm decreased its portfolio allocation in SSRM by 3.44% over the last quarter.
Mackenzie Financial holds 4,740K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 5,707K shares, representing a decrease of 20.40%. The firm decreased its portfolio allocation in SSRM by 18.60% over the last quarter.
Mirae Asset Global Investments Co. holds 3,534K shares representing 1.73% ownership of the company. In it's prior filing, the firm reported owning 3,581K shares, representing a decrease of 1.35%. The firm increased its portfolio allocation in SSRM by 98.58% 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.
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This story originally appeared on Fintel.
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