Alaska Permanent Fund Corp Raises Stock Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Alaska Permanent Fund Corp grew its stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 15.2% during the 4th quarter, Holdings Channel reports. The fund owned 994,211 shares of the basic materials company’s stock after acquiring an additional 131,079 shares during the period. Alaska Permanent Fund Corp’s holdings in SSR Mining were worth $10,698,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in SSR Mining during the fourth quarter worth about $111,000. Teza Capital Management LLC acquired a new stake in shares of SSR Mining in the third quarter valued at about $201,000. IFP Advisors Inc purchased a new stake in SSR Mining during the 3rd quarter worth approximately $221,000. Cerity Partners LLC purchased a new stake in SSR Mining during the 4th quarter worth approximately $255,000. Finally, Hsbc Holdings PLC purchased a new stake in SSR Mining during the 3rd quarter worth approximately $259,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.

SSR Mining Trading Down 1.3 %

Shares of SSR Mining stock traded down $0.07 on Thursday, reaching $5.40. 271,923 shares of the company were exchanged, compared to its average volume of 4,718,983. The stock has a fifty day moving average price of $4.61 and a 200-day moving average price of $8.89. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -10.73, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. The company has a current ratio of 7.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.07. SSR Mining Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $17.72.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share for the quarter, beating 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 business had revenue of $425.90 million for the quarter. During the same quarter in the prior year, the firm posted $0.12 EPS. On average, analysts expect that SSR Mining Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SSRM. UBS Group lowered SSR Mining from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $5.00 in a research report on Thursday, February 22nd. TheStreet downgraded SSR Mining from a “c” rating to a “d” rating in a research note on Wednesday, February 28th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of SSR Mining in a research note on Monday, April 8th. TD Securities downgraded SSR Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $3.00 target price (down previously from $6.00) on shares of SSR Mining in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, SSR Mining has an average rating of “Hold” and an average target price of $6.63.

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.