UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in SSR Mining Inc. (NASDAQ:SSRM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 95.9% in the third quarter, HoldingsChannel reports. The firm owned 208,873 shares of the basic materials company’s stock after selling 4,933,151 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SSR Mining were worth $1,186,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. 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 valued at $90,000 after buying an additional 3,760 shares during the last quarter. Quarry LP boosted its stake in SSR Mining by 119.7% during the 2nd quarter. Quarry LP now owns 10,368 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 5,649 shares during the last quarter. Cadence Wealth Management LLC grew its holdings in SSR Mining by 17.1% during 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of SSR Mining in the 2nd quarter worth about $32,000. Finally, Signaturefd LLC raised its stake in shares of SSR Mining by 28.4% in the 2nd quarter. Signaturefd LLC now owns 33,345 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 7,369 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SSRM. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, December 13th. UBS Group boosted their price target on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, SSR Mining has a consensus rating of “Hold” and a consensus price target of $5.18.

SSR Mining Stock Performance

Shares of SSRM stock opened at $7.25 on Wednesday. The company has a market cap of $1.47 billion, a P/E ratio of -3.05, a PEG ratio of 1.23 and a beta of 0.69. The business has a 50 day moving average of $6.10 and a two-hundred day moving average of $5.49. SSR Mining Inc. has a 52 week low of $3.76 and a 52 week high of $11.35. 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 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.