Tidal Investments LLC Purchases 407,920 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Tidal Investments LLC grew its holdings in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,174,367 shares of the basic materials company's stock after acquiring an additional 407,920 shares during the quarter. Tidal Investments LLC owned 1.57% of SSR Mining worth $22,094,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SSRM. TrinityPoint Wealth LLC grew its holdings in shares of SSR Mining by 72.4% during the fourth quarter. TrinityPoint Wealth LLC now owns 23,622 shares of the basic materials company's stock worth $164,000 after buying an additional 9,917 shares in the last quarter. State of Wyoming bought a new position in shares of SSR Mining during the fourth quarter worth about $195,000. ProShare Advisors LLC grew its holdings in shares of SSR Mining by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 57,154 shares of the basic materials company's stock worth $398,000 after buying an additional 18,806 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of SSR Mining by 59.0% during the fourth quarter. Quantinno Capital Management LP now owns 49,451 shares of the basic materials company's stock worth $344,000 after buying an additional 18,344 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of SSR Mining during the fourth quarter worth about $246,000. 68.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SSRM shares. Cormark upgraded SSR Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. CIBC increased their price objective on SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. 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 raised 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 research report on Wednesday, February 5th. Finally, National Bank Financial raised SSR Mining to a "hold" rating in a research report on Friday, March 21st. Four 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 price target of $10.03.

SSR Mining Stock Up 3.2%

NASDAQ SSRM traded up $0.36 during trading hours on Friday, hitting $11.52. 1,946,655 shares of the company traded hands, compared to its average volume of 2,609,757. The business's 50-day moving average is $10.55 and its 200-day moving average is $8.77. SSR Mining Inc. has a twelve month low of $4.32 and a twelve month 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 stock has a market capitalization of $2.34 billion, a price-to-earnings 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 released its quarterly earnings data on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Sell-side analysts anticipate that SSR Mining Inc. will post 0.73 earnings per share 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.