Parvin Asset Management LLC Makes New Investment in SSR Mining Inc. (NASDAQ:SSRM)

Parvin Asset Management LLC purchased a new stake in SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 32,670 shares of the basic materials company's stock, valued at approximately $228,000.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE increased its stake in SSR Mining by 62.4% during the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company's stock worth $25,000 after purchasing an additional 1,360 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of SSR Mining during the fourth quarter worth $29,000. Allianz SE acquired a new stake in shares of SSR Mining during the fourth quarter worth $30,000. Lincoln Capital LLC acquired a new position in SSR Mining in the 4th quarter worth $70,000. Finally, Olympiad Research LP bought a new position in SSR Mining during the 4th quarter worth about $94,000. Institutional investors and hedge funds own 68.30% of the company's stock.

SSR Mining Stock Performance

Shares of SSRM traded down $0.03 during mid-day trading on Friday, reaching $10.03. The company's stock had a trading volume of 1,761,661 shares, compared to its average volume of 2,673,427. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. SSR Mining Inc. has a 1-year low of $4.32 and a 1-year high of $11.48. The business has a 50-day simple moving average of $10.34 and a two-hundred day simple moving average of $8.27. The stock has a market cap of $2.03 billion, a P/E ratio of -7.78, a PEG ratio of 0.37 and a beta of 0.30.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $323.19 million for the quarter, compared to analyst estimates of $262.20 million. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. As a group, equities research analysts anticipate that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on SSRM shares. StockNews.com upgraded SSR Mining from a "sell" rating to a "hold" rating in a report on Friday, January 17th. Royal Bank of Canada raised shares of SSR Mining from an "underperform" rating to a "sector perform" rating and raised their target price for the company from $5.50 to $8.00 in a research report on Wednesday, February 5th. Cormark upgraded shares of SSR Mining from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. UBS Group raised their price target on SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, CIBC increased their price objective on SSR Mining from $8.25 to $9.75 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.03.

SSR Mining Company 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.