Balyasny Asset Management L.P. Sells 181,670 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Balyasny Asset Management L.P. lowered its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 91.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,481 shares of the basic materials company's stock after selling 181,670 shares during the period. Balyasny Asset Management L.P.'s holdings in SSR Mining were worth $115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bayesian Capital Management LP acquired a new position in shares of SSR Mining in the 4th quarter worth approximately $207,000. Parvin Asset Management LLC acquired a new position in SSR Mining during the fourth quarter worth $228,000. Northern Trust Corp boosted its stake in shares of SSR Mining by 7.1% in the 4th quarter. Northern Trust Corp now owns 1,342,744 shares of the basic materials company's stock valued at $9,345,000 after purchasing an additional 89,155 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of SSR Mining by 0.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company's stock worth $1,686,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of SSR Mining in the 4th quarter worth about $120,000. Institutional investors own 68.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SSRM shares. Royal Bank of Canada upgraded shares of SSR Mining from an "underperform" rating to a "sector perform" rating and lifted their target price for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Cormark upgraded SSR Mining from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. UBS Group increased their target price on SSR Mining from $12.10 to $12.35 and gave the stock a "buy" rating in a report on Friday, April 11th. National Bankshares restated a "sector perform" rating on shares of SSR Mining in a research note on Wednesday, April 23rd. Finally, National Bank Financial upgraded shares of SSR Mining to a "hold" rating in a research report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.03.

SSR Mining Trading Down 2.3%

Shares of SSR Mining stock traded down $0.26 during trading on Thursday, hitting $11.16. 1,943,721 shares of the company were exchanged, compared to its average volume of 2,611,523. SSR Mining Inc. has a 1-year low of $4.32 and a 1-year high of $11.61. 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 has a market capitalization of $2.26 billion, a P/E ratio of -8.65, a price-to-earnings-growth ratio of 0.37 and a beta of -0.15. The firm's fifty day moving average price is $10.54 and its 200 day moving average price is $8.68.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) 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%. As a group, sell-side analysts expect that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

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.