The Manufacturers Life Insurance Company Acquires 75,473 Shares of SSR Mining Inc. (NASDAQ:SSRM)

The Manufacturers Life Insurance Company lifted its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 45.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 242,046 shares of the basic materials company’s stock after purchasing an additional 75,473 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of SSR Mining worth $1,092,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in SSR Mining in the fourth quarter valued at about $895,000. Creekmur Asset Management LLC bought a new position in SSR Mining in the fourth quarter valued at about $40,000. B. Riley Wealth Advisors Inc. bought a new position in SSR Mining in the fourth quarter valued at about $904,000. Quadrature Capital Ltd bought a new position in SSR Mining in the fourth quarter valued at about $507,000. Finally, CWM LLC boosted its holdings in SSR Mining by 178.5% in the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 3,926 shares during the last quarter. Institutional investors own 68.30% of the company’s stock.

SSR Mining Price Performance

SSR Mining stock opened at $5.85 on Friday. The firm has a market capitalization of $1.18 billion, a P/E ratio of -2.83, a PEG ratio of 0.57 and a beta of 0.73. SSR Mining Inc. has a 1 year low of $3.76 and a 1 year high of $14.52. The business has a 50-day moving average of $5.38 and a 200-day moving average of $5.19. The company has a current ratio of 3.54, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. The business had revenue of $184.84 million for the quarter. On average, equities analysts anticipate that SSR Mining Inc. will post 0.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SSRM. UBS Group decreased their price target on SSR Mining from $6.50 to $6.30 and set a “buy” rating on the stock in a report on Thursday, August 8th. CIBC raised their target price on SSR Mining from $5.50 to $5.75 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, SSR Mining currently has an average rating of “Hold” and an average price target of $6.89.

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.