Summit Investment Advisors Inc. Has $138,000 Stake in SSR Mining Inc. (NASDAQ:SSRM)

Summit Investment Advisors Inc. cut its position in shares of SSR Mining Inc. (NASDAQ:SSRM - Free Report) TSE: SSO by 98.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,882 shares of the basic materials company's stock after selling 1,730,000 shares during the period. Summit Investment Advisors Inc.'s holdings in SSR Mining were worth $138,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SSRM. HighTower Advisors LLC increased its holdings in shares of SSR Mining by 24.8% during the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company's stock worth $75,000 after buying an additional 2,619 shares during the last quarter. Barclays PLC boosted its holdings in SSR Mining by 33.8% during the third quarter. Barclays PLC now owns 701,763 shares of the basic materials company's stock valued at $3,985,000 after acquiring an additional 177,447 shares during the period. Virtu Financial LLC acquired a new stake in SSR Mining during the third quarter worth $334,000. Tidal Investments LLC boosted its position in SSR Mining by 6.4% in the third quarter. Tidal Investments LLC now owns 2,766,447 shares of the basic materials company's stock valued at $15,713,000 after buying an additional 166,130 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in SSR Mining by 649.6% in the third quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company's stock valued at $847,000 after buying an additional 127,401 shares during the period. Hedge funds and other institutional investors own 68.30% of the company's stock.

SSR Mining Stock Performance

Shares of SSRM traded down $0.24 during mid-day trading on Tuesday, hitting $10.40. 294,320 shares of the company's stock were exchanged, compared to its average volume of 2,687,895. 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 fifty-two week low of $4.32 and a fifty-two week high of $11.48. The business's 50 day moving average is $10.34 and its two-hundred day moving average is $8.17. The firm has a market capitalization of $2.11 billion, a P/E ratio of -8.03, a P/E/G ratio of 0.37 and a beta of 0.30.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last released its quarterly earnings data 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). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The business had revenue of $323.19 million during the quarter, compared to analyst estimates of $262.20 million. On average, equities analysts expect that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group raised their price objective on SSR Mining from $12.10 to $12.35 and gave the company a "buy" rating in a research report on Friday, April 11th. Royal Bank of Canada upgraded shares of SSR Mining from an "underperform" rating to a "sector perform" rating and raised their price objective for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. National Bank Financial raised shares of SSR Mining to a "hold" rating in a research note on Friday, March 21st. CIBC upped their price target on SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, StockNews.com upgraded SSR Mining from a "sell" rating to a "hold" rating in a research note on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.