Arrowstreet Capital Limited Partnership Takes $613,000 Position in SSR Mining Inc. (NASDAQ:SSRM)

Arrowstreet Capital Limited Partnership bought a new stake in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 88,010 shares of the basic materials company's stock, valued at approximately $613,000.

Other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of SSR Mining by 24.8% in the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company's stock worth $75,000 after buying an additional 2,619 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of SSR Mining by 9.8% during the third quarter. Quantinno Capital Management LP now owns 31,107 shares of the basic materials company's stock valued at $177,000 after acquiring an additional 2,788 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of SSR Mining by 399.1% in the 3rd 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. Barclays PLC grew its holdings in shares of SSR Mining by 33.8% in the 3rd quarter. Barclays PLC now owns 701,763 shares of the basic materials company's stock worth $3,985,000 after purchasing an additional 177,447 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of SSR Mining during the 3rd quarter worth about $334,000. Institutional investors and hedge funds own 68.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. National Bank Financial raised shares of SSR Mining to a "hold" rating in a research note on Friday, March 21st. CIBC lifted their price objective on SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada upgraded SSR Mining from an "underperform" rating to a "sector perform" rating and raised their target price 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. Finally, UBS Group upped their target price 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. Four 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 company presently has an average rating of "Hold" and an average price target of $10.03.

SSR Mining Trading Down 1.3 %

SSRM stock traded down $0.15 during midday trading on Thursday, hitting $10.84. 579,679 shares of the company's stock were exchanged, compared to its average volume of 2,732,120. The company has a market cap of $2.19 billion, a PE ratio of -8.41, a price-to-earnings-growth ratio of 0.37 and a beta of 0.30. 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 stock's fifty day moving average price is $10.17 and its 200-day moving average price is $7.88. SSR Mining Inc. has a one year low of $4.32 and a one year high of $11.48.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced 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). The company had revenue of $323.19 million for the quarter, compared to analyst estimates of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. Research analysts predict that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal 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.