Balyasny Asset Management L.P. Decreases Stake in SSR Mining Inc. (NASDAQ:SSRM)

Balyasny Asset Management L.P. cut its holdings in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 91.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,481 shares of the basic materials company's stock after selling 181,670 shares during the quarter. 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 have also recently added to or reduced their stakes in SSRM. Vanguard Group Inc. raised its position in SSR Mining by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,346,480 shares of the basic materials company's stock valued at $72,216,000 after buying an additional 71,364 shares during the last quarter. Cibc World Market Inc. increased its position 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 valued at $25,967,000 after purchasing an additional 674,793 shares during the last quarter. Federated Hermes Inc. increased its position in shares of SSR Mining by 53.9% during the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock valued at $25,551,000 after purchasing an additional 1,285,347 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SSR Mining by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,678,940 shares of the basic materials company's stock valued at $18,652,000 after purchasing an additional 38,593 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of SSR Mining by 23.9% during the 4th 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 during the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Stock Performance

Shares of SSRM stock traded up $0.36 on Friday, hitting $11.52. 1,946,655 shares of the stock were exchanged, compared to its average volume of 2,609,757. 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 firm has a market capitalization of $2.34 billion, a PE ratio of -8.93, a P/E/G ratio of 0.37 and a beta of -0.15. SSR Mining Inc. has a one year low of $4.32 and a one year high of $11.61. The firm's 50 day moving average is $10.55 and its two-hundred day moving average is $8.77.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SSRM shares. Wall Street Zen raised SSR Mining from a "buy" rating to a "strong-buy" rating in a research report on Thursday. National Bank Financial raised SSR Mining to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada raised 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 report on Wednesday, February 5th. Cormark raised SSR Mining from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. Finally, 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. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" 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.