Northern Trust Corp Acquires 89,155 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Northern Trust Corp increased its position in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,342,744 shares of the basic materials company's stock after buying an additional 89,155 shares during the period. Northern Trust Corp owned 0.66% of SSR Mining worth $9,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SSRM. Barclays PLC increased its holdings in SSR Mining by 33.8% in the third quarter. Barclays PLC now owns 701,763 shares of the basic materials company's stock worth $3,985,000 after buying an additional 177,447 shares during the last quarter. Franklin Resources Inc. increased its holdings in SSR Mining by 649.6% in the third quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company's stock worth $847,000 after buying an additional 127,401 shares during the last quarter. HB Wealth Management LLC increased its holdings in SSR Mining by 11.3% in the fourth quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company's stock worth $100,000 after buying an additional 1,463 shares during the last quarter. Lincoln Capital LLC acquired a new position in SSR Mining in the fourth quarter worth approximately $70,000. Finally, Cibc World Market Inc. increased its holdings in SSR Mining by 22.1% in the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company's stock worth $25,967,000 after buying an additional 674,793 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company's stock.

SSR Mining Stock Performance

Shares of SSRM traded up $0.36 during mid-day trading on Friday, hitting $11.52. The company's stock had a trading volume of 1,946,655 shares, compared to its average volume of 2,608,801. 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 quick ratio of 1.97 and a current ratio of 4.70. The firm has a market capitalization of $2.34 billion, a PE ratio of -8.93, a price-to-earnings-growth ratio of 0.37 and a beta of -0.15. The stock's 50-day moving average is $10.54 and its two-hundred day moving average is $8.72.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last posted its quarterly earnings data on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $332.64 million. As a group, sell-side analysts anticipate that SSR Mining Inc. will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SSRM shares. UBS Group increased 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. Royal Bank of Canada upgraded SSR Mining from an "underperform" rating to a "sector perform" rating and increased their price target for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. Wall Street Zen upgraded SSR Mining from a "buy" rating to a "strong-buy" rating in a report on Thursday. National Bank Financial upgraded SSR Mining to a "hold" rating in a report on Friday, March 21st. Finally, Cormark upgraded SSR Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.