Tower Research Capital LLC TRC Increases Stock Position in SSR Mining Inc. (NASDAQ:SSRM)

Tower Research Capital LLC TRC lifted its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 187.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,599 shares of the basic materials company’s stock after buying an additional 8,872 shares during the period. Tower Research Capital LLC TRC’s holdings in SSR Mining were worth $95,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SSRM. Barclays PLC grew its holdings in SSR Mining by 33.8% during the third quarter. Barclays PLC now owns 701,763 shares of the basic materials company’s stock worth $3,985,000 after acquiring an additional 177,447 shares during the period. Franklin Resources Inc. grew its stake in shares of SSR Mining by 649.6% during the 3rd quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock worth $847,000 after purchasing an additional 127,401 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of SSR Mining in the 3rd quarter valued at about $114,000. JPMorgan Chase & Co. lifted its stake in shares of SSR Mining by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock valued at $8,794,000 after purchasing an additional 220,349 shares during the period. Finally, HB Wealth Management LLC lifted its stake in shares of SSR Mining by 11.3% in the fourth quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 1,463 shares during the period. 68.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SSRM shares. Cormark raised shares of SSR Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, April 22nd. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. National Bankshares reiterated a “sector perform” rating on shares of SSR Mining in a research report on Wednesday, April 23rd. CIBC raised their price target on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their price objective on shares of SSR Mining from $12.10 to $12.35 and gave the stock a “buy” rating in a research report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.03.

SSR Mining Stock Performance

NASDAQ SSRM opened at $11.61 on Friday. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -9.00, a price-to-earnings-growth ratio of 0.37 and a beta of -0.15. SSR Mining Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $11.61. The business has a fifty day moving average of $10.44 and a 200-day moving average of $8.43.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.21. The company had revenue of $303.43 million for the quarter, compared to analyst estimates of $332.64 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. As a group, analysts predict that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

SSR Mining Profile

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.