Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Buys New Shares in SSR Mining Inc. (NASDAQ:SSRM)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,400 shares of the basic materials company's stock, valued at approximately $156,000. SSR Mining accounts for approximately 0.5% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s investment portfolio, making the stock its 23rd largest position.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of SSR Mining by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company's stock worth $72,216,000 after buying an additional 71,364 shares during the last quarter. 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 purchasing an additional 674,793 shares in the last quarter. JPMorgan Chase & Co. boosted its position in SSR Mining by 23.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock worth $13,351,000 after purchasing an additional 370,006 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in SSR Mining by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,378,659 shares of the basic materials company's stock worth $9,614,000 after purchasing an additional 51,408 shares in the last quarter. Finally, Barclays PLC boosted its position 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 purchasing an additional 177,447 shares in the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. CIBC raised their target price on SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. National Bankshares reaffirmed a "sector perform" rating on shares of SSR Mining in a report on Wednesday, April 23rd. Wall Street Zen raised SSR Mining from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. National Bank Financial raised SSR Mining to a "hold" rating in a report on Friday, March 21st. Finally, UBS Group increased their price target on SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.03.

SSR Mining Trading Up 1.9%

SSRM stock traded up $0.22 during midday trading on Wednesday, hitting $11.68. 812,514 shares of the company's stock were exchanged, compared to its average volume of 2,603,271. The business has a 50-day simple moving average of $10.57 and a two-hundred day simple moving average of $8.86. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.37 billion, a PE ratio of -9.06, a P/E/G ratio of 0.37 and a beta of -0.15. SSR Mining Inc. has a 1-year low of $4.32 and a 1-year high of $11.73.

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

SSR Mining Company 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.