Pitcairn Co. Cuts Stock Holdings in SSR Mining Inc. (NASDAQ:SSRM)

Pitcairn Co. trimmed its holdings in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) by 31.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 21,000 shares of the basic materials company’s stock after selling 9,617 shares during the period. Pitcairn Co.’s holdings in SSR Mining were worth $119,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SSRM. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SSR Mining during the second quarter valued at approximately $32,000. Abich Financial Wealth Management LLC bought a new stake in shares of SSR Mining during the first quarter valued at approximately $41,000. SeaCrest Wealth Management LLC bought a new stake in shares of SSR Mining during the third quarter valued at approximately $57,000. Quarry LP increased its position in shares of SSR Mining by 119.7% during the second 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of SSR Mining during the third quarter valued at approximately $60,000. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research report on Tuesday, October 15th. StockNews.com downgraded shares of SSR Mining from a “hold” rating to a “sell” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.18.

SSR Mining Stock Up 1.1 %

SSRM opened at $5.76 on Friday. The firm’s 50 day simple moving average is $5.88 and its two-hundred day simple moving average is $5.38. The company has a market capitalization of $1.17 billion, a PE ratio of -2.41, a PEG ratio of 0.95 and a beta of 0.72. SSR Mining Inc. has a 1-year low of $3.76 and a 1-year high of $12.04. The company has a current ratio of 3.91, a quick ratio of 1.97 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.