Cibc World Markets Corp Invests $132,000 in SSR Mining Inc. (NASDAQ:SSRM)

Cibc World Markets Corp purchased a new position in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the fourth quarter, HoldingsChannel reports. The firm purchased 18,992 shares of the basic materials company’s stock, valued at approximately $132,000.

Several other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in SSR Mining by 62.4% in the 4th quarter. US Bancorp DE now owns 3,540 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,360 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of SSR Mining in the 4th quarter valued at approximately $29,000. Point72 DIFC Ltd purchased a new stake in shares of SSR Mining in the third quarter valued at approximately $47,000. Lincoln Capital LLC acquired a new position in SSR Mining during the fourth quarter worth $70,000. Finally, HighTower Advisors LLC grew its holdings in SSR Mining by 24.8% during the third quarter. HighTower Advisors LLC now owns 13,163 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 2,619 shares during the period. 68.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group boosted their target price on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and increased their target price for the company from $5.50 to $8.00 in a report on Wednesday, February 5th. National Bank Financial upgraded SSR Mining to a “hold” rating in a report on Friday, March 21st. Finally, CIBC raised their price objective on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.93.

SSR Mining Stock Up 3.0 %

Shares of NASDAQ SSRM opened at $11.21 on Friday. The firm’s 50-day moving average is $9.53 and its two-hundred day moving average is $7.41. The company has a market capitalization of $2.27 billion, a PE ratio of -8.69, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. SSR Mining Inc. has a 12-month low of $4.30 and a 12-month high of $11.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.70 and a quick ratio of 1.97.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its earnings results on Tuesday, February 18th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The company had revenue of $323.19 million for 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 analysts anticipate that SSR Mining Inc. will post 0.73 EPS for the current fiscal 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.