Allspring Global Investments Holdings LLC Cuts Stake in SSR Mining Inc. (NASDAQ:SSRM)

Allspring Global Investments Holdings LLC lessened its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 43.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 482,639 shares of the basic materials company's stock after selling 368,272 shares during the period. Allspring Global Investments Holdings LLC owned about 0.24% of SSR Mining worth $5,193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSRM. American International Group Inc. acquired a new position in shares of SSR Mining in the 2nd quarter valued at approximately $37,000. Cetera Investment Advisers acquired a new position in SSR Mining during the first quarter valued at approximately $202,000. PDT Partners LLC bought a new stake in SSR Mining during the first quarter worth $212,000. Moors & Cabot Inc. acquired a new stake in shares of SSR Mining in the 1st quarter valued at $212,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of SSR Mining in the 4th quarter valued at $111,000. 68.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. CIBC cut SSR Mining from a "sector outperform" rating to a "neutral" rating and lowered their price target for the stock from $18.50 to $6.00 in a report on Wednesday, February 14th. UBS Group downgraded shares of SSR Mining from a "buy" rating to a "neutral" rating and reduced their price target for the company from $17.00 to $5.00 in a research note on Thursday, February 22nd. TD Securities cut shares of SSR Mining from a "buy" rating to a "hold" rating in a research report on Wednesday, February 14th. National Bank Financial restated a "sector perform spec overwgt" rating on shares of SSR Mining in a research report on Monday, April 8th. Finally, Royal Bank of Canada reiterated an "underperform" rating and set a $3.00 price target (down from $6.00) on shares of SSR Mining in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $6.63.

SSR Mining Trading Up 3.9 %

Shares of NASDAQ:SSRM traded up $0.20 during trading on Friday, reaching $5.34. The stock had a trading volume of 6,520,325 shares, compared to its average volume of 4,788,269. SSR Mining Inc. has a 52 week low of $3.76 and a 52 week high of $17.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01. The firm's fifty day moving average is $4.66 and its 200 day moving average is $9.07. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -10.47, a P/E/G ratio of 1.32 and a beta of 0.82.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last issued its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.23. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. The business had revenue of $425.90 million for the quarter. During the same period last year, the company posted $0.12 EPS. As a group, equities analysts forecast that SSR Mining Inc. will post 0.22 EPS for the current fiscal 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.