Ninety One UK Ltd Lowers Stock Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Ninety One UK Ltd reduced its position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,709,335 shares of the basic materials company’s stock after selling 21,984 shares during the period. Ninety One UK Ltd owned about 1.33% of SSR Mining worth $29,152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SSRM. American International Group Inc. purchased a new position in SSR Mining in the second quarter valued at $37,000. International Assets Investment Management LLC purchased a new position in SSR Mining in the fourth quarter valued at $111,000. GSA Capital Partners LLP purchased a new position in SSR Mining in the third quarter valued at $155,000. Schonfeld Strategic Advisors LLC purchased a new position in SSR Mining in the first quarter valued at $178,000. Finally, Utah Retirement Systems purchased a new position in SSR Mining in the second quarter valued at $185,000. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

SSR Mining Trading Up 1.6 %

SSRM stock opened at $5.14 on Friday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -10.08, a PEG ratio of 1.32 and a beta of 0.82. The company has a quick ratio of 3.99, a current ratio of 7.01 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $4.74 and a 200-day simple moving average of $9.12. SSR Mining Inc. has a 52 week low of $3.76 and a 52 week high of $17.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, topping 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 firm had revenue of $425.90 million during the quarter. During the same period last year, the company posted $0.12 earnings per share. On average, equities research analysts expect that SSR Mining Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada reiterated an “underperform” rating and issued a $3.00 target price (down from $6.00) on shares of SSR Mining in a report on Tuesday, February 20th. CIBC cut SSR Mining from a “sector outperform” rating to a “neutral” rating and cut their price target for the company from $18.50 to $6.00 in a research note on Wednesday, February 14th. Scotiabank cut SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 14th. UBS Group cut SSR Mining from a “buy” rating to a “neutral” rating and cut their price target for the company from $17.00 to $5.00 in a research note on Thursday, February 22nd. Finally, TD Securities cut SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, SSR Mining currently has an average rating of “Hold” and an average price target of $6.63.

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.