Quantbot Technologies LP Raises Stock Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Quantbot Technologies LP boosted its stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 109.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,007 shares of the basic materials company’s stock after purchasing an additional 73,277 shares during the quarter. Quantbot Technologies LP owned about 0.07% of SSR Mining worth $974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SSRM. Cibc World Market Inc. boosted its holdings in shares of SSR Mining by 22.1% in the 4th quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after buying an additional 674,793 shares in the last quarter. Two Sigma Advisers LP lifted its position in SSR Mining by 16.2% during the third quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after acquiring an additional 462,000 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in SSR Mining by 399.1% in the third quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock valued at $2,455,000 after acquiring an additional 345,568 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in SSR Mining by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock worth $8,794,000 after purchasing an additional 220,349 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in shares of SSR Mining by 115.9% during the third quarter. Martingale Asset Management L P now owns 407,996 shares of the basic materials company’s stock worth $2,317,000 after purchasing an additional 219,013 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. National Bank Financial raised shares of SSR Mining to a “hold” rating in a research report on Friday, March 21st. CIBC boosted their target price on shares of SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. UBS Group raised their target price on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada raised shares of 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 research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.93.

SSR Mining Price Performance

NASDAQ:SSRM opened at $10.99 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97. The company has a 50 day moving average price of $9.39 and a 200-day moving average price of $7.36. SSR Mining Inc. has a 1-year low of $4.03 and a 1-year high of $11.38. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -8.52, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53.

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