Millennium Management LLC Has $2.05 Million Stock Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Millennium Management LLC cut its stake in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 65.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 294,699 shares of the basic materials company's stock after selling 552,932 shares during the period. Millennium Management LLC owned about 0.15% of SSR Mining worth $2,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in 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 acquiring an additional 71,364 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in SSR Mining by 21.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company's stock worth $70,265,000 after acquiring an additional 1,802,821 shares in the last quarter. Federated Hermes Inc. grew its position in SSR Mining by 53.9% in the fourth quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock worth $25,551,000 after acquiring an additional 1,285,347 shares in the last quarter. Geode Capital Management LLC grew its position in SSR Mining by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,678,940 shares of the basic materials company's stock worth $18,652,000 after acquiring an additional 38,593 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in SSR Mining by 23.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock worth $13,351,000 after acquiring an additional 370,006 shares in the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SSRM. CIBC boosted their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised shares of SSR Mining from an "underperform" rating to a "sector perform" rating and upped their price objective for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. UBS Group upped their price objective on shares of SSR Mining from $12.10 to $12.35 and gave the stock a "buy" rating in a report on Friday, April 11th. National Bank Financial raised shares of SSR Mining to a "hold" rating in a report on Friday, March 21st. Finally, Wall Street Zen raised shares of SSR Mining from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Four equities research 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 stock. According to data from MarketBeat.com, SSR Mining presently has an average rating of "Moderate Buy" and an average price target of $10.03.

SSR Mining Stock Performance

NASDAQ:SSRM traded up $0.44 during trading hours on Thursday, hitting $12.75. 5,396,102 shares of the company traded hands, compared to its average volume of 2,620,711. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -9.88, a P/E/G ratio of 0.37 and a beta of -0.15. SSR Mining Inc. has a twelve month low of $4.32 and a twelve month high of $13.18. The firm has a 50-day moving average of $10.77 and a 200 day moving average of $9.16. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.08 by $0.21. The firm had revenue of $303.43 million during the quarter, compared to analysts' expectations 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 forecast that SSR Mining Inc. will post 0.73 EPS for the current year.

About SSR Mining

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.