Sprott Inc. Invests $1.13 Million in SSR Mining Inc. (NASDAQ:SSRM)

Sprott Inc. acquired a new position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 162,501 shares of the basic materials company’s stock, valued at approximately $1,131,000. Sprott Inc. owned about 0.08% of SSR Mining at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its holdings in SSR Mining by 0.5% in the fourth quarter. CIBC Asset Management Inc now owns 248,064 shares of the basic materials company’s stock worth $1,729,000 after purchasing an additional 1,282 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of SSR Mining by 11.3% during the 4th quarter. HB Wealth Management LLC now owns 14,376 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 1,463 shares in the last quarter. HighTower Advisors LLC lifted its position in SSR Mining by 24.8% during the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 2,619 shares during the last quarter. Quantinno Capital Management LP boosted its stake in SSR Mining by 9.8% in the third quarter. Quantinno Capital Management LP now owns 31,107 shares of the basic materials company’s stock valued at $177,000 after acquiring an additional 2,788 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in SSR Mining by 1.1% in the fourth quarter. Rhumbline Advisers now owns 325,929 shares of the basic materials company’s stock valued at $2,268,000 after acquiring an additional 3,681 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.

SSR Mining Stock Down 2.1 %

SSR Mining stock opened at $10.25 on Wednesday. The business’s 50-day simple moving average is $8.01 and its two-hundred day simple moving average is $6.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.97 and a current ratio of 4.70. The company has a market cap of $2.07 billion, a PE ratio of -7.95, a PEG ratio of 0.37 and a beta of 0.62. SSR Mining Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $10.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its earnings results 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). SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The firm had revenue of $323.19 million during the quarter, compared to analysts’ expectations of $262.20 million. Equities analysts anticipate that SSR Mining Inc. will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SSRM. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. UBS Group upped their target price on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from $5.50 to $8.00 in a report on Wednesday, February 5th. 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 report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, SSR Mining presently has an average rating of “Hold” and a consensus target price of $9.93.

SSR Mining Company 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.