Bayesian Capital Management LP Purchases Shares of 29,801 SSR Mining Inc. (NASDAQ:SSRM)

Bayesian Capital Management LP bought a new position in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,801 shares of the basic materials company's stock, valued at approximately $207,000.

Other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. boosted its position in shares of SSR Mining by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock worth $25,551,000 after acquiring an additional 1,285,347 shares during the last quarter. Cibc World Market Inc. raised its holdings in shares of SSR Mining by 22.1% during the 4th 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of SSR Mining by 23.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock valued at $13,351,000 after purchasing an additional 370,006 shares in the last quarter. Trexquant Investment LP increased its position in SSR Mining by 1,582.3% in the fourth quarter. Trexquant Investment LP now owns 324,461 shares of the basic materials company's stock worth $2,258,000 after purchasing an additional 305,174 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in SSR Mining by 99.3% during the fourth quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company's stock valued at $3,528,000 after purchasing an additional 252,293 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company's stock.

SSR Mining Trading Up 7.7 %

Shares of NASDAQ:SSRM traded up $0.83 on Friday, hitting $11.61. 3,007,805 shares of the company's stock were exchanged, compared to its average volume of 2,659,205. SSR Mining Inc. has a 12 month low of $4.32 and a 12 month high of $11.61. The business's 50 day simple moving average is $10.44 and its two-hundred day simple moving average is $8.45. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. National Bank Financial upgraded shares of SSR Mining to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada upgraded SSR Mining from an "underperform" rating to a "sector perform" rating and upped their price objective for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. Cormark upgraded SSR Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. UBS Group raised their price target on SSR Mining from $12.10 to $12.35 and gave the stock a "buy" rating in a research report on Friday, April 11th. Finally, StockNews.com upgraded shares of SSR Mining from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. Five research 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, SSR Mining presently has an average rating of "Hold" and a consensus target price of $10.03.

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.