Y Intercept Hong Kong Ltd Invests $847,000 in SSR Mining Inc. (NASDAQ:SSRM)

Y Intercept Hong Kong Ltd bought a new stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 121,697 shares of the basic materials company’s stock, valued at approximately $847,000. Y Intercept Hong Kong Ltd owned 0.06% of SSR Mining at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SSRM. Point72 DIFC Ltd acquired a new stake in SSR Mining in the 3rd quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC acquired a new stake in SSR Mining in the 3rd quarter valued at approximately $60,000. Lincoln Capital LLC bought a new position in SSR Mining during the 4th quarter valued at $70,000. Drive Wealth Management LLC bought a new position in SSR Mining during the 3rd quarter valued at $74,000. Finally, HighTower Advisors LLC boosted its stake in SSR Mining by 24.8% during the 3rd quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 2,619 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SSRM shares. Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price target for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. CIBC increased their price target on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, UBS Group lifted their target price on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Four 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.com, the company has a consensus rating of “Hold” and an average target price of $9.93.

SSR Mining Stock Performance

Shares of NASDAQ SSRM opened at $10.10 on Friday. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -7.83, a PEG ratio of 0.37 and a beta of 0.62. The stock’s fifty day simple moving average is $8.14 and its 200 day simple moving average is $6.64. SSR Mining Inc. has a 52-week low of $3.90 and a 52-week high of $10.91.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share 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 business had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. As a group, sell-side analysts forecast that SSR Mining Inc. will post 0.73 earnings per share for the current fiscal 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.