The Manufacturers Life Insurance Company Buys 1,200 Shares of SSR Mining Inc. (NASDAQ:SSRM)

The Manufacturers Life Insurance Company raised its stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 241,415 shares of the basic materials company’s stock after buying an additional 1,200 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in SSR Mining were worth $1,686,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Two Sigma Securities LLC acquired a new position in SSR Mining during the fourth quarter worth $120,000. Price T Rowe Associates Inc. MD grew its stake in SSR Mining by 21.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,505 shares of the basic materials company’s stock worth $568,000 after buying an additional 14,601 shares in the last quarter. Hsbc Holdings PLC grew its stake in SSR Mining by 533.2% during the fourth quarter. Hsbc Holdings PLC now owns 204,493 shares of the basic materials company’s stock worth $1,420,000 after buying an additional 172,196 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in SSR Mining by 187.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company’s stock worth $95,000 after buying an additional 8,872 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in SSR Mining by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 125,405 shares of the basic materials company’s stock worth $873,000 after buying an additional 6,763 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and raised their price target for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. StockNews.com upgraded shares of SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. National Bankshares restated a “sector perform” rating on shares of SSR Mining in a research report on Wednesday, April 23rd. UBS Group boosted their price target 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. Finally, CIBC boosted their price target on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.03.

SSR Mining Stock Up 7.7%

Shares of NASDAQ SSRM opened at $11.61 on Monday. The company’s 50 day moving average price is $10.44 and its 200-day moving average price is $8.46. The company has a market capitalization of $2.35 billion, a P/E ratio of -9.00, a price-to-earnings-growth ratio of 0.37 and a beta of -0.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. SSR Mining Inc. has a 52-week low of $4.32 and a 52-week high of $11.61.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.21. The company had revenue of $303.43 million during 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%. Equities analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current year.

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.