Ninety One UK Ltd Has $29.15 Million Position in SSR Mining Inc. (NASDAQ:SSRM)

Ninety One UK Ltd lowered its position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,709,335 shares of the basic materials company’s stock after selling 21,984 shares during the quarter. Ninety One UK Ltd’s holdings in SSR Mining were worth $29,152,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SSR Mining by 10.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,750 shares of the basic materials company’s stock valued at $504,000 after buying an additional 4,502 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of SSR Mining by 15.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 142,288 shares of the basic materials company’s stock valued at $1,531,000 after buying an additional 19,549 shares during the period. Cerity Partners LLC acquired a new position in shares of SSR Mining in the fourth quarter valued at approximately $255,000. International Assets Investment Management LLC acquired a new position in shares of SSR Mining in the fourth quarter valued at approximately $111,000. Finally, U S Global Investors Inc. acquired a new position in shares of SSR Mining in the fourth quarter valued at approximately $3,405,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. TD Securities cut shares of SSR Mining from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. CIBC downgraded shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and decreased their target price for the company from $18.50 to $6.00 in a research report on Wednesday, February 14th. UBS Group downgraded shares of SSR Mining from a “buy” rating to a “neutral” rating and decreased their target price for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $3.00 target price (down previously from $6.00) on shares of SSR Mining in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, SSR Mining presently has a consensus rating of “Hold” and an average target price of $6.63.

SSR Mining Stock Performance

Shares of SSRM stock opened at $5.14 on Friday. The stock has a market cap of $1.04 billion, a P/E ratio of -10.08, a P/E/G ratio of 1.32 and a beta of 0.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99. The company has a fifty day moving average price of $4.74 and a two-hundred day moving average price of $9.12. SSR Mining Inc. has a one year low of $3.76 and a one year 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 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. The firm had revenue of $425.90 million during the quarter. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. During the same quarter in the prior year, the business earned $0.12 EPS. As a group, equities analysts predict that SSR Mining Inc. will post 0.22 EPS for the current year.

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.