SSR Mining Inc. (NASDAQ:SSRM) Position Boosted by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp increased its position in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 15.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 994,211 shares of the basic materials company’s stock after purchasing an additional 131,079 shares during the period. Alaska Permanent Fund Corp owned about 0.49% of SSR Mining worth $10,698,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SSRM. Van ECK Associates Corp raised its stake in shares of SSR Mining by 0.9% during the third 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 during the last quarter. Vanguard Group Inc. boosted its stake in shares of SSR Mining by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,686,085 shares of the basic materials company’s stock valued at $102,148,000 after purchasing an additional 80,649 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in SSR Mining during the 4th quarter worth approximately $50,352,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of SSR Mining by 3.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,644,819 shares of the basic materials company’s stock valued at $48,455,000 after acquiring an additional 111,218 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of SSR Mining by 1.2% in the 3rd quarter. Invesco Ltd. now owns 3,052,716 shares of the basic materials company’s stock valued at $40,571,000 after acquiring an additional 35,808 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SSRM. UBS Group cut shares of SSR Mining from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $17.00 to $5.00 in a research report on Thursday, February 22nd. CIBC cut shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and dropped their target price for the company from $18.50 to $6.00 in a report on Wednesday, February 14th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. TD Securities lowered shares of SSR Mining from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, TheStreet downgraded SSR Mining from a “c” rating to a “d” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, SSR Mining has an average rating of “Hold” and an average price target of $6.63.

SSR Mining Stock Down 1.3 %

Shares of NASDAQ:SSRM traded down $0.07 on Thursday, hitting $5.40. 271,923 shares of the company’s stock were exchanged, compared to its average volume of 4,718,983. The firm’s 50-day moving average is $4.61 and its 200 day moving average is $8.89. The company has a market capitalization of $1.09 billion, a PE ratio of -10.73, a P/E/G ratio of 1.65 and a beta of 0.82. SSR Mining Inc. has a 1-year low of $3.76 and a 1-year high of $17.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.99 and a current ratio of 7.01.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its quarterly earnings data 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 positive return on equity of 6.27% and a negative net margin of 6.87%. The company had revenue of $425.90 million during the quarter. During the same period in the previous year, the business posted $0.12 earnings per share. Sell-side analysts predict that SSR Mining Inc. will post 0.18 EPS for the current 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.