SSR Mining Inc. (NASDAQ:SSRM) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its position in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 19.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,665,084 shares of the basic materials company's stock after selling 655,300 shares during the quarter. Two Sigma Advisers LP owned about 1.32% of SSR Mining worth $18,549,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in shares of SSR Mining by 0.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 241,415 shares of the basic materials company's stock valued at $1,686,000 after buying an additional 1,200 shares during the last quarter. Xponance Inc. lifted its position in shares of SSR Mining by 9.3% during the fourth quarter. Xponance Inc. now owns 14,387 shares of the basic materials company's stock valued at $100,000 after buying an additional 1,222 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of SSR Mining by 0.5% during the fourth quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company's stock valued at $1,729,000 after buying an additional 1,282 shares during the last quarter. US Bancorp DE lifted its position in shares of SSR Mining by 62.4% during the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after buying an additional 1,360 shares during the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of SSR Mining by 11.3% during the fourth quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company's stock valued at $100,000 after buying an additional 1,463 shares during the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

SSR Mining Stock Down 0.4%

Shares of SSRM traded down $0.05 during mid-day trading on Tuesday, hitting $11.48. 1,296,955 shares of the company traded hands, compared to its average volume of 2,604,623. SSR Mining Inc. has a 1-year low of $4.32 and a 1-year high of $11.72. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.33 billion, a PE ratio of -8.89, a price-to-earnings-growth ratio of 0.37 and a beta of -0.15. The business has a 50 day moving average of $10.56 and a 200 day moving average of $8.84.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued 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. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The company had revenue of $303.43 million for the quarter, compared to the consensus estimate of $332.64 million. Equities research analysts anticipate that SSR Mining Inc. will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on SSRM shares. UBS Group increased their price target on shares of SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a research report on Friday, April 11th. Royal Bank of Canada upgraded shares of SSR Mining from an "underperform" rating to a "sector perform" rating and upped their price objective for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. Cormark upgraded shares of SSR Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. CIBC upped their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Wall Street Zen upgraded 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.03.

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.