SSR Mining Inc. (NASDAQ:SSRM) Position Lifted by Rhumbline Advisers

Rhumbline Advisers raised its stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 325,929 shares of the basic materials company’s stock after purchasing an additional 3,681 shares during the period. Rhumbline Advisers’ holdings in SSR Mining were worth $2,268,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SSRM. JPMorgan Chase & Co. raised its position in shares of SSR Mining by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock valued at $8,794,000 after acquiring an additional 220,349 shares in the last quarter. Two Sigma Advisers LP increased its stake in SSR Mining by 16.2% during the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after purchasing an additional 462,000 shares during the last quarter. Franklin Resources Inc. increased its stake in SSR Mining by 649.6% during the third quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock valued at $847,000 after purchasing an additional 127,401 shares during the last quarter. Verition Fund Management LLC raised its holdings in shares of SSR Mining by 177.5% during the third quarter. Verition Fund Management LLC now owns 105,763 shares of the basic materials company’s stock worth $601,000 after purchasing an additional 67,657 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SSR Mining by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company’s stock worth $7,542,000 after buying an additional 75,563 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

SSR Mining Price Performance

Shares of NASDAQ:SSRM opened at $9.56 on Tuesday. The firm’s 50 day moving average is $8.31 and its two-hundred day moving average is $6.76. The firm has a market capitalization of $1.93 billion, a P/E ratio of -7.41, a PEG ratio of 0.37 and a beta of 0.62. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. SSR Mining Inc. has a 52 week low of $3.91 and a 52 week high of $10.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The business had revenue of $323.19 million during the quarter, compared to analyst estimates of $262.20 million. Analysts anticipate that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SSRM. UBS Group boosted their price objective on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research report on Tuesday, February 18th. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. CIBC raised their price target on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, SSR Mining currently has a consensus rating of “Hold” and an average target price of $9.93.

About SSR Mining

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.