Parvin Asset Management LLC Buys New Position in SSR Mining Inc. (NASDAQ:SSRM)

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

Several other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. boosted its holdings in shares of SSR Mining by 53.9% in the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock valued at $25,551,000 after acquiring an additional 1,285,347 shares during the last quarter. Cibc World Market Inc. boosted its holdings in SSR Mining by 22.1% in the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company's stock valued at $25,967,000 after purchasing an additional 674,793 shares during the last quarter. JPMorgan Chase & Co. grew its position in SSR Mining by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,918,258 shares of the basic materials company's stock worth $13,351,000 after purchasing an additional 370,006 shares during the period. Trexquant Investment LP raised its stake in shares of SSR Mining by 1,582.3% during the 4th quarter. Trexquant Investment LP now owns 324,461 shares of the basic materials company's stock valued at $2,258,000 after buying an additional 305,174 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of SSR Mining by 99.3% in the 4th quarter. American Century Companies Inc. now owns 506,331 shares of the basic materials company's stock valued at $3,528,000 after buying an additional 252,293 shares during the period. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

SSR Mining Price Performance

Shares of NASDAQ:SSRM traded up $0.36 during midday trading on Monday, hitting $10.39. The company's stock had a trading volume of 739,938 shares, compared to its average volume of 2,664,956. SSR Mining Inc. has a 12-month low of $4.32 and a 12-month high of $11.48. The company has a market cap of $2.10 billion, a P/E ratio of -8.05, a price-to-earnings-growth ratio of 0.37 and a beta of 0.30. 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 business's 50 day simple moving average is $10.34 and its 200 day simple moving average is $8.30.

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 for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm 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%. On average, analysts forecast that SSR Mining Inc. will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. CIBC upped their price objective on SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. UBS Group increased their price target on shares of SSR Mining from $12.10 to $12.35 and gave the stock a "buy" rating in a report on Friday, April 11th. Cormark raised shares of SSR Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. National Bank Financial upgraded shares of SSR Mining to a "hold" rating in a research report on Friday, March 21st. Finally, National Bankshares restated a "sector perform" rating on shares of SSR Mining in a research report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $10.03.

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.