Assenagon Asset Management S.A. Acquires New Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Assenagon Asset Management S.A. bought a new stake in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 187,781 shares of the basic materials company's stock, valued at approximately $838,000. Assenagon Asset Management S.A. owned approximately 0.09% of SSR Mining as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of SSR Mining by 6.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 32,911 shares of the basic materials company's stock valued at $437,000 after acquiring an additional 1,970 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of SSR Mining by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 122,739 shares of the basic materials company's stock valued at $1,631,000 after purchasing an additional 4,423 shares during the period. Barclays PLC increased its position in shares of SSR Mining by 4.7% during the 3rd quarter. Barclays PLC now owns 62,325 shares of the basic materials company's stock valued at $828,000 after purchasing an additional 2,781 shares during the period. Van ECK Associates Corp raised its stake in shares of SSR Mining by 0.9% in the 3rd quarter. Van ECK Associates Corp now owns 21,178,035 shares of the basic materials company's stock worth $281,455,000 after buying an additional 180,685 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of SSR Mining by 1.2% in the third quarter. Invesco Ltd. now owns 3,052,716 shares of the basic materials company's stock valued at $40,571,000 after buying an additional 35,808 shares during the period. Institutional investors and hedge funds own 68.30% of the company's stock.

Analyst Ratings Changes

SSRM has been the topic of a number of research analyst reports. StockNews.com lowered SSR Mining from a "hold" rating to a "sell" rating in a report on Thursday, May 16th. Scotiabank lowered shares of SSR Mining from a "sector outperform" rating to a "sector perform" rating in a research note 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. UBS Group downgraded SSR Mining from a "buy" rating to a "neutral" rating and cut their price objective for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. Finally, CIBC cut SSR Mining from a "sector outperform" rating to a "neutral" rating and decreased their target price for the stock from $18.50 to $6.00 in a report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, SSR Mining has a consensus rating of "Hold" and an average target price of $6.63.

SSR Mining Stock Down 3.2 %

Shares of SSRM traded down $0.19 during mid-day trading on Tuesday, reaching $5.67. The company's stock had a trading volume of 2,025,099 shares, compared to its average volume of 4,513,636. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -2.74, a price-to-earnings-growth ratio of 0.59 and a beta of 0.76. The business has a fifty day moving average of $4.95 and a 200 day moving average of $7.83. The company has a quick ratio of 1.75, a current ratio of 3.07 and a debt-to-equity ratio of 0.08. SSR Mining Inc. has a 1 year low of $3.76 and a 1 year high of $16.07.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its quarterly earnings data on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.23. SSR Mining had a positive return on equity of 6.37% and a negative net margin of 30.90%. The firm had revenue of $425.90 million during the quarter. During the same period in the prior year, the company posted $0.12 earnings per share. As a group, analysts forecast that SSR Mining Inc. will post 0.55 earnings per share 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.

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