Two Sigma Investments LP trimmed its position in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 17.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,466,818 shares of the basic materials company's stock after selling 534,818 shares during the quarter. Two Sigma Investments LP owned 1.22% of SSR Mining worth $17,169,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in SSRM. US Bancorp DE increased its stake in SSR Mining by 62.4% in the fourth quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 1,360 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in SSR Mining in the 4th quarter valued at approximately $29,000. Allianz SE bought a new position in SSR Mining in the 4th quarter valued at approximately $30,000. Olympiad Research LP bought a new position in SSR Mining in the 4th quarter valued at approximately $94,000. Finally, Tower Research Capital LLC TRC lifted its stake in SSR Mining by 187.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,599 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 8,872 shares during the last quarter. 68.30% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently commented on SSRM. UBS Group increased their price objective on shares of SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a research note on Friday, April 11th. Cormark raised shares of SSR Mining from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. CIBC increased their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. National Bankshares reissued a "sector perform" rating on shares of SSR Mining in a research note on Wednesday, April 23rd. Finally, Wall Street Zen raised shares of SSR Mining from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.03.
Check Out Our Latest Analysis on SSRM
SSR Mining Trading Up 0.2%
Shares of SSRM stock traded up $0.02 during trading hours on Wednesday, hitting $11.48. 461,084 shares of the company's stock traded hands, compared to its average volume of 2,601,890. The stock's 50 day simple moving average is $10.57 and its 200 day simple moving average is $8.86. The stock has a market cap of $2.33 billion, a PE ratio of -8.91, a price-to-earnings-growth ratio of 0.37 and a beta of -0.15. SSR Mining Inc. has a 12 month low of $4.32 and a 12 month high of $11.73. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.
SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share (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 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, sell-side analysts anticipate that SSR Mining Inc. will post 0.73 EPS for the current year.
SSR Mining Company Profile
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Free Report)
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.
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