Sei Investments Co. Acquires 67,369 Shares of SSR Mining Inc. (NASDAQ:SSRM)

Sei Investments Co. raised its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 36.1% in the 4th quarter, HoldingsChannel reports. The firm owned 253,733 shares of the basic materials company’s stock after buying an additional 67,369 shares during the period. Sei Investments Co.’s holdings in SSR Mining were worth $1,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cibc World Market Inc. raised its position in shares of SSR Mining by 22.1% in the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after purchasing an additional 674,793 shares during the period. Two Sigma Advisers LP grew its stake in SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after buying an additional 462,000 shares during the last quarter. Tidal Investments LLC raised its holdings in SSR Mining by 6.4% in the 3rd quarter. Tidal Investments LLC now owns 2,766,447 shares of the basic materials company’s stock valued at $15,713,000 after acquiring an additional 166,130 shares during the period. National Bank of Canada FI lifted its position in SSR Mining by 3.8% during the third quarter. National Bank of Canada FI now owns 2,737,848 shares of the basic materials company’s stock worth $15,551,000 after acquiring an additional 100,946 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of SSR Mining by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock worth $8,794,000 after acquiring an additional 220,349 shares during the period. 68.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

SSRM has been the topic of a number of recent research reports. StockNews.com upgraded SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. UBS Group increased their price objective on SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. CIBC lifted their target price on SSR Mining from $8.25 to $9.75 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada upgraded shares of SSR Mining from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Finally, National Bank Financial upgraded shares of SSR Mining to a “hold” rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.93.

SSR Mining Price Performance

SSR Mining stock opened at $9.09 on Friday. The firm has a market cap of $1.84 billion, a PE ratio of -7.05, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53. 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 stock’s fifty day moving average price is $9.80 and its two-hundred day moving average price is $7.61. SSR Mining Inc. has a one year low of $4.32 and a one year high of $11.48.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $262.20 million. SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. As a group, research analysts expect 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.