SSR Mining Inc. (NASDAQ:SSRM) Shares Bought by Alberta Investment Management Corp

Alberta Investment Management Corp lifted its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 72.3% during the fourth quarter, Holdings Channel reports. The fund owned 246,700 shares of the basic materials company’s stock after purchasing an additional 103,500 shares during the quarter. Alberta Investment Management Corp’s holdings in SSR Mining were worth $1,722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in SSR Mining by 226.9% in the 3rd quarter. CWM LLC now owns 22,202 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 15,411 shares in the last quarter. Creative Planning grew its holdings in shares of SSR Mining by 26.0% during the third quarter. Creative Planning now owns 76,805 shares of the basic materials company’s stock worth $436,000 after buying an additional 15,870 shares in the last quarter. Blue Trust Inc. raised its position in shares of SSR Mining by 2,017.8% in the third quarter. Blue Trust Inc. now owns 32,614 shares of the basic materials company’s stock valued at $185,000 after buying an additional 31,074 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of SSR Mining during the third quarter valued at approximately $60,000. Finally, State of New Jersey Common Pension Fund D boosted its position in SSR Mining by 92.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 31,587 shares of the basic materials company’s stock worth $179,000 after acquiring an additional 15,152 shares during the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Trading Down 2.6 %

Shares of SSRM opened at $10.23 on Friday. SSR Mining Inc. has a twelve month low of $3.90 and a twelve month high of $10.91. The firm has a market capitalization of $2.07 billion, a P/E ratio of -7.93 and a beta of 0.62. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $7.89 and its 200 day simple moving average is $6.47.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $323.19 million during the quarter, compared to analysts’ expectations of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. On average, equities research analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SSRM shares. UBS Group boosted their price target on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada upgraded SSR Mining from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, CIBC upped their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.93.

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.