Sequoia Financial Advisors LLC Acquires Shares of 13,775 SSR Mining Inc. (NASDAQ:SSRM)

Sequoia Financial Advisors LLC bought a new position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the fourth quarter, Holdings Channel.com reports. The fund bought 13,775 shares of the basic materials company’s stock, valued at approximately $96,000.

A number of other hedge funds have also modified their holdings of SSRM. Cibc World Market Inc. boosted its position in SSR Mining by 22.1% during the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock worth $25,967,000 after acquiring an additional 674,793 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of SSR Mining by 16.2% during the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after purchasing an additional 462,000 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of SSR Mining by 399.1% in the third quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock valued at $2,455,000 after purchasing an additional 345,568 shares in the last quarter. JPMorgan Chase & Co. lifted its position in SSR Mining by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock worth $8,794,000 after buying an additional 220,349 shares in the last quarter. Finally, Martingale Asset Management L P grew its holdings in SSR Mining by 115.9% in the 3rd quarter. Martingale Asset Management L P now owns 407,996 shares of the basic materials company’s stock valued at $2,317,000 after buying an additional 219,013 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Price Performance

SSR Mining stock opened at $11.11 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -8.61, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. The company’s 50 day simple moving average is $9.17 and its 200-day simple moving average is $7.20. SSR Mining Inc. has a 1 year low of $3.96 and a 1 year high of $11.38.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $323.19 million during the quarter, compared to analysts’ expectations of $262.20 million. As a group, equities research analysts expect that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. CIBC lifted 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. UBS Group increased their price target on shares of SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.