Jacobs Levy Equity Management Inc. Sells 456,631 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Jacobs Levy Equity Management Inc. decreased its position in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 82.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,236 shares of the basic materials company's stock after selling 456,631 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in SSR Mining were worth $691,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Deutsche Bank AG lifted its stake in shares of SSR Mining by 23.5% during the 4th quarter. Deutsche Bank AG now owns 363,494 shares of the basic materials company's stock valued at $2,530,000 after buying an additional 69,124 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of SSR Mining during the 4th quarter valued at $207,000. Parvin Asset Management LLC purchased a new stake in SSR Mining in the 4th quarter worth $228,000. Northern Trust Corp lifted its stake in 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 worth $9,345,000 after purchasing an additional 89,155 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 68.30% of the company's stock.

Wall Street Analyst Weigh In

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

SSR Mining Price Performance

Shares of SSR Mining stock traded up $0.36 during trading hours on Friday, reaching $11.52. The company's stock had a trading volume of 1,946,655 shares, compared to its average volume of 2,608,801. The firm has a 50 day moving average price of $10.54 and a 200-day moving average price of $8.72. SSR Mining Inc. has a one year low of $4.32 and a one 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 stock has a market cap of $2.34 billion, a P/E ratio of -8.93, a P/E/G ratio of 0.37 and a beta of -0.15.

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 for the quarter, topping analysts' consensus estimates of $0.08 by $0.21. The firm had revenue of $303.43 million for the quarter, compared to the consensus estimate of $332.64 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. On average, analysts predict that SSR Mining Inc. will post 0.73 EPS for the current 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.