Principal Financial Group Inc. Sells 5,747 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Principal Financial Group Inc. reduced its stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 28.9% during the third quarter, HoldingsChannel.com reports. The fund owned 14,152 shares of the basic materials company’s stock after selling 5,747 shares during the quarter. Principal Financial Group Inc.’s holdings in SSR Mining were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SSRM. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SSR Mining during the second quarter valued at approximately $32,000. Abich Financial Wealth Management LLC purchased a new position in SSR Mining during the first quarter valued at approximately $41,000. Quarry LP raised its stake in SSR Mining by 119.7% in the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after buying an additional 5,649 shares in the last quarter. HB Wealth Management LLC purchased a new stake in SSR Mining during the second quarter worth $56,000. Finally, SeaCrest Wealth Management LLC bought a new stake in SSR Mining during the 3rd quarter valued at $57,000. 68.30% of the stock is owned by institutional investors.

SSR Mining Stock Down 1.0 %

SSR Mining stock opened at $5.70 on Wednesday. The business has a 50 day simple moving average of $5.88 and a 200-day simple moving average of $5.37. SSR Mining Inc. has a 12 month low of $3.76 and a 12 month high of $12.04. The stock has a market capitalization of $1.15 billion, a PE ratio of -2.38, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.91 and a quick ratio of 1.97.

Analyst Ratings Changes

Separately, UBS Group raised their price target on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.18.

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.