SSR Mining Inc. (NASDAQ:SSRM) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its stake in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 2.0% in the third quarter, HoldingsChannel.com reports. The fund owned 246,782 shares of the basic materials company’s stock after selling 4,925 shares during the quarter. CIBC Asset Management Inc’s holdings in SSR Mining were worth $1,402,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SSRM. Principal Financial Group Inc. boosted its stake in shares of SSR Mining by 23.3% during the 2nd quarter. Principal Financial Group Inc. now owns 19,899 shares of the basic materials company’s stock worth $90,000 after purchasing an additional 3,760 shares during the last quarter. Quarry LP boosted its position in SSR Mining by 119.7% during the second quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 5,649 shares during the last quarter. Cadence Wealth Management LLC grew its stake in SSR Mining by 17.1% in the 2nd quarter. Cadence Wealth Management LLC now owns 47,068 shares of the basic materials company’s stock worth $213,000 after acquiring an additional 6,860 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in SSR Mining in the 2nd quarter valued at $32,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of SSR Mining by 18.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,324 shares of the basic materials company’s stock worth $207,000 after purchasing an additional 7,277 shares during the period. Institutional investors and hedge funds own 68.30% of the company’s stock.

Wall Street Analyst Weigh In

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

SSR Mining Price Performance

Shares of NASDAQ SSRM opened at $5.73 on Thursday. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08. SSR Mining Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $12.04. The business has a 50 day moving average price of $5.87 and a two-hundred day moving average price of $5.36. The firm has a market cap of $1.16 billion, a PE ratio of -2.40, a price-to-earnings-growth ratio of 0.86 and a beta of 0.72.

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.