Ameriprise Financial Inc. Sells 280,593 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Ameriprise Financial Inc. cut its holdings in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 92.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,762 shares of the basic materials company's stock after selling 280,593 shares during the period. Ameriprise Financial Inc.'s holdings in SSR Mining were worth $158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE raised its position in shares of SSR Mining by 62.4% during the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after buying an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in SSR Mining during the fourth quarter valued at $29,000. Allianz SE bought a new stake in SSR Mining in the 4th quarter valued at $30,000. Olympiad Research LP purchased a new stake in SSR Mining in the 4th quarter worth $94,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of SSR Mining by 187.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 8,872 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors.

SSR Mining Trading Down 3.6%

Shares of SSR Mining stock traded down $0.46 on Tuesday, reaching $12.33. The company had a trading volume of 2,017,391 shares, compared to its average volume of 2,620,554. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -9.56, a P/E/G ratio of 0.37 and a beta of -0.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. The firm's 50-day moving average price is $10.92 and its two-hundred day moving average price is $9.32. SSR Mining Inc. has a 1 year low of $4.32 and a 1 year high of $13.33.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $332.64 million. As a group, research analysts predict that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SSRM has been the topic of several research reports. Cormark raised SSR Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. UBS Group upped their price objective on SSR Mining from $12.10 to $12.35 and gave the stock a "buy" rating in a report on Friday, April 11th. Wall Street Zen lowered shares of SSR Mining from a "strong-buy" rating to a "buy" rating in a report on Friday. National Bankshares restated a "sector perform" rating on shares of SSR Mining in a research report on Wednesday, April 23rd. Finally, CIBC increased their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, SSR Mining currently has a consensus rating of "Hold" and a consensus target price of $10.03.

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.